Guideline Value for ABDUL FAROOQ SHAHIB 1ST CROSS STRE

Abdul Farooq Shahib 1st Cross Stre guideline value

The current guideline value of Abdul Farooq Shahib 1st Cross Stre is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Abdul Farooq Shahib 1st Cross Stre has changed

The guideline value for Abdul Farooq Shahib 1st Cross Stre has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. It is important to note that the register has no figures for this street for the years 2007, 2003, and 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value for Abdul Farooq Shahib 1st Cross Stre above the median.

• Abdulbarook Sahib Street: Rs 4,400 per sq.ft (2024)
• Abdul Farooq Shahib 2nd Cross Stre: Rs 4,400 per sq.ft (2024)
• Abdulbarook Sahib 3rd Street: Rs 4,400 per sq.ft (2024)
• Abdul Farooq Shahib Street: Rs 4,400 per sq.ft (2024)
• Abdulbarook Sahib 2nd Street: Rs 4,400 per sq.ft (2024)
• Abdulbarook Sahib 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Farooq Shahib 1st Cross Stre

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Abdul Farooq Shahib 1st Cross Stre?

The Sub Registrar Office that covers Abdul Farooq Shahib 1st Cross Stre is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Abdul Farooq Shahib 1st Cross Stre?

The current guideline value of Abdul Farooq Shahib 1st Cross Stre is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the other streets in Issa Pallavaram with the same guideline value?

Other streets in Issa Pallavaram that share the same guideline value of Rs 4,400 per sq.ft include Abdulbarook Sahib Street, Abdul Farooq Shahib 2nd Cross Stre, Abdulbarook Sahib 3rd Street, Abdul Farooq Shahib Street, Abdulbarook Sahib 2nd Street, and Abdulbarook Sahib 1st Street.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.

Where can I find the Sub Registrar Office for registering my property?

The Sub Registrar Office for Abdul Farooq Shahib 1st Cross Stre is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information about your SRO online.