Guideline Value for Yusuff Lane

Yusuff Lane guideline value

The current guideline value of Yusuff Lane is Rs 6,600 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 I Type - I.

How the guideline value of Yusuff Lane has changed

The guideline value for Yusuff Lane has undergone several revisions over the years. Starting from Rs 722 per sq.ft in 2002, it increased to Rs 792 per sq.ft in 2003, marking a 10% rise. The value then saw a further increase to Rs 945 per sq.ft in 2007, which was a 19% change. The 2012 revision brought the value to Rs 6,000 per sq.ft, a significant jump of 535% from the previous figure.

In the following years, the guideline value fluctuated, with a decrease to Rs 4,020 per sq.ft in 2017, which represented a 33% drop. However, the value rebounded to Rs 6,000 per sq.ft in 2023, and then to the current figure of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 814%.

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, which is equal to the current figure for Yusuff Lane.

• Woods Road: Rs 15,400 per sq.ft (2024)
• Whites Road: Rs 15,400 per sq.ft (2024)
• Whites Lane: Rs 13,200 per sq.ft (2024)
• West Cott Road: Rs 13,200 per sq.ft (2024)
• Welders Street: Rs 7,700 per sq.ft (2024)
• Weavers Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Yusuff Lane

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 fees to Rs 5,94,000. It is important to note that the 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 Yusuff Lane?

The Sub Registrar Office that covers Yusuff 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 is a crucial factor during the registration of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher value between the guideline value and the sale price, which can significantly impact the total expenditure involved in the transaction.

Frequently asked questions

What is the current guideline value of Yusuff Lane?

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

How has the guideline value changed over the years?

The guideline value of Yusuff Lane has changed from Rs 722 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 814% over the years.

What are the other streets in Triplicane with guideline values?

Other streets in Triplicane have varying guideline values, with some notable examples including Woods Road and Whites Road at Rs 15,400 per sq.ft, and Welders Street at Rs 7,700 per sq.ft.

What fees are associated with buying property in Yusuff Lane?

When buying property in Yusuff Lane, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Yusuff Lane?

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