Guideline Value for Towlath Khan Street

Towlath Khan Street guideline value

The current guideline value of Towlath Khan Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Towlath Khan Street has changed

The guideline value for Towlath Khan Street has undergone several revisions over the years. In 2007, the value was set at Rs 945 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a remarkable rise of 429%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has been revised to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 482%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

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. The median value for these streets is Rs 6,600 per sq.ft, placing Towlath Khan Street's 2024 figure below that median.

• Tippu Saheb Street Chennai-2: Rs 5,500 per sq.ft (2024)
• Thypoon Ali Khan Street: Rs 5,500 per sq.ft (2024)
• Ulagappan Street: Rs 6,600 per sq.ft (2024)
• Thulasinga Perumal Koil Street: Rs 7,700 per sq.ft (2024)
• Thulasinga Perumal Koil South Mada Street: Rs 6,600 per sq.ft (2024)
• Thulasinga Perumal Koil Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Towlath Khan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value is Rs 55,00,000. The stamp duty, charged at 7%, amounts to Rs 3,85,000, while the registration fee at 2% is Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Towlath Khan Street?

The Sub Registrar Office that covers Towlath Khan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Triplicane. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable for the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of Towlath Khan Street?

The current guideline value of Towlath Khan Street 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 from Rs 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, an overall increase of 482% over the years.

What is the stamp duty rate for properties in Towlath Khan Street?

The stamp duty rate for properties in Towlath Khan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Towlath Khan Street located?

The Sub Registrar Office for Towlath Khan Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft for the year 2024.