Guideline Value for Ulagappan Street

Ulagappan Street guideline value

The current guideline value of Ulagappan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ulagappan Street has changed

In the 2007 revision, the guideline value was Rs 1,145 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 6,000 per sq.ft, marking an increase of 424%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, reflecting a decrease of 33%. The 2023 revision recorded a value of Rs 6,000 per sq.ft, which then increased to Rs 6,600 per sq.ft in the 2024 revision, representing a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 476%. It is important to note that the register has no figures for Ulagappan Street for the years 2002 and 2003.

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 guideline value is Rs 6,600 per sq.ft, which is equal to the current figure for Ulagappan Street.

• Unnis Ali 1st Lane: Rs 6,600 per sq.ft (2024)
• Unnis Ali 2nd Lane: Rs 6,600 per sq.ft (2024)
• Unnis Ali Street: Rs 6,600 per sq.ft (2024)
• Usman Khan Street: Rs 5,500 per sq.ft (2024)
• Vallabha Agraharam Street: Rs 7,700 per sq.ft (2024)
• Towlath Khan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ulagappan Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ulagappan Street?

The Sub Registrar Office that covers Ulagappan 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 information.

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

The guideline value is an important factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Ulagappan Street?

The current guideline value of Ulagappan 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 significantly from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

What are the other streets with the same guideline value in Triplicane?

Other streets in Triplicane with the same guideline value of Rs 6,600 per sq.ft include Unnis Ali 1st Lane, Unnis Ali 2nd Lane, and Unnis Ali Street.

What is the registration fee for a property in Ulagappan Street?

The registration fee for property in Ulagappan Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 66,00,000, the registration fee would be Rs 1,32,000.

Where is the Sub Registrar Office for Ulagappan Street located?

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