Guideline Value for Sydoji Street

Sydoji Street guideline value

The current guideline value of Sydoji Street in Triplicane village, under the Triplicane SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Sydoji Street has changed

The guideline value of Sydoji Street has seen several revisions over the years. In 2007, the value was Rs 1,650 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017, before rising again to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Sydoji Street's 2024 figure aligns with this median.

• Sydoji South Street: Rs 6,600 per sq.ft (2024)
• Syed Abdullah Street: Rs 5,500 per sq.ft (2024)
• Sydoji Lane: Rs 6,600 per sq.ft (2024)
• Syed Noor Street: Rs 5,500 per sq.ft (2024)
• Tajuddin Khan Street: Rs 7,700 per sq.ft (2024)
• Takkuddin Khan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sydoji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sydoji Street?

The Sub Registrar Office that covers Sydoji Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Triplicane

The guideline value is a crucial factor in property transactions in Triplicane, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures transparency and standardization in property transactions. It helps in assessing the value of the property for taxation purposes and ensures that both parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Sydoji Street?

The current guideline value of Sydoji Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which represents a total increase of 300% over the years.

What is the registration office for Sydoji Street?

The registration office for Sydoji Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Sydoji Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

What is the land classification of Sydoji Street?

Sydoji Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.