Guideline Value for ABDUL FAROOQ SHAHIB STREET

Abdul Farooq Shahib Street guideline value

The current guideline value of Abdul Farooq Shahib Street 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 Street has changed

The guideline value for Abdul Farooq Shahib Street has undergone several revisions over the years. The earliest available figure is from 2012, when it was Rs 4,000 per sq.ft. This value remained unchanged until 2017, when it decreased to Rs 2,680 per sq.ft. Following this, the value saw a significant increase to Rs 4,000 per sq.ft in 2023, and then it rose again to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value in this area is Rs 3,300 per sq.ft, making the 2024 figure for Abdul Farooq Shahib Street above that median.

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

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, while 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 or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Abdul Farooq Shahib Street?

The Sub Registrar Office that covers Abdul Farooq Shahib Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is an essential factor during property registration in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Abdul Farooq Shahib Street?

The current guideline value of Abdul Farooq Shahib Street 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 seen several changes, with the most recent revision in 2024 increasing it to Rs 4,400 per sq.ft from Rs 4,000 per sq.ft in 2023. The value was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

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

Other streets in Issa Pallavaram that share the same 2024 guideline value of Rs 4,400 per sq.ft include Abdul Farooq Shahib 1st Cross Street, Abdul Farooq Shahib 2nd Cross Street, and several streets named Abdulbarook Sahib.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Abdul Farooq Shahib Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Abdul Farooq Shahib Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, under the Chengalpattu registration zone.