Guideline Value for ABDUL FAROOQ SHAHIB 2ND CROSS STRE

Abdul Farooq Shahib 2nd Cross Stre guideline value

The current guideline value of Abdul Farooq Shahib 2nd Cross Stre is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Abdul Farooq Shahib 2nd Cross Stre has changed

The guideline value for Abdul Farooq Shahib 2nd Cross Stre has undergone several revisions over the years. The earliest available figure is from 2012, when the value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. In the subsequent revision in 2023, the value increased to Rs 4,000 per sq.ft, and then rose again to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a 10% increase, with a significant rise of 49% from 2017 to 2023.

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 current value of Abdul Farooq Shahib 2nd Cross Stre above the median.

• Abdul Farooq Shahib 1st Cross Stre: Rs 4,400 per sq.ft (2024)
• Abdul Farooq Shahib Street: Rs 4,400 per sq.ft (2024)
• Abdulbarook Sahib Street: Rs 4,400 per sq.ft (2024)
• Abdulbarook Sahib 3rd 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 2nd 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 would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abdul Farooq Shahib 2nd Cross Stre?

The Sub Registrar Office that covers Abdul Farooq Shahib 2nd Cross Stre is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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 stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abdul Farooq Shahib 2nd Cross Stre?

The current guideline value of Abdul Farooq Shahib 2nd 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 is the land classification of Abdul Farooq Shahib 2nd Cross Stre?

Abdul Farooq Shahib 2nd Cross Stre is classified as Mixed Type - II land.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total duty of Rs 3,96,000.

Where is the Sub Registrar Office located for this street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.