Guideline Value for Thulasinga Perumal Koil 2nd Lane

Thulasinga Perumal Koil 2nd Lane guideline value

The current guideline value of Thulasinga Perumal Koil 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thulasinga Perumal Koil 2nd Lane has changed

The guideline value for Thulasinga Perumal Koil 2nd Lane has seen several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 1,172 per sq.ft. This figure increased to Rs 1,286 per sq.ft in 2003, marking a 10% rise. Following this, the value rose to Rs 1,650 per sq.ft in 2007, a significant increase of 28%. The value jumped dramatically to Rs 5,000 per sq.ft in 2012, reflecting a 203% increase. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value was revised to Rs 5,000 per sq.ft in 2023, and the current value is Rs 5,500 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 369%. It is important to note that there are no figures recorded for years other than those specified in the register for this street.

Guideline values in Triplicane

In Triplicane village, 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. The guideline value for Thulasinga Perumal Koil 2nd Lane is below this median.

• Thulasinga Perumal Koil 1st Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil South Mada Street: Rs 6,600 per sq.ft (2024)
• Thulasinga Perumal Koil Street: Rs 7,700 per sq.ft (2024)
• Thoppu Venkatachalam Street: Rs 6,600 per sq.ft (2024)
• Thypoon Ali Khan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasinga Perumal Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Thulasinga Perumal Koil 2nd Lane?

The Sub Registrar Office that covers Thulasinga Perumal Koil 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. It is advisable for buyers and sellers to be familiar with the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thulasinga Perumal Koil 2nd Lane?

The current guideline value of Thulasinga Perumal Koil 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,172 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 369% over this period.

What are the stamp duty and registration fees for property in Thulasinga Perumal Koil 2nd Lane?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Thulasinga Perumal Koil 2nd Lane?

The Triplicane Sub Registrar Office handles registrations for Thulasinga Perumal Koil 2nd Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, contributing to transparency in the real estate market.