Guideline Value for ABDUL RASAK BACK STREET

Abdul Rasak Back Street guideline value

The current guideline value of Abdul Rasak Back Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Abdul Rasak Back Street has changed

The guideline value for Abdul Rasak Back Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 10%. The register does not have 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, with the median being Rs 3,300 per sq.ft. The guideline value for Abdul Rasak Back Street aligns with this median.

• Abdul Rasak Street: Rs 3,850 per sq.ft (2024)
• Abdul Farooq Shahib Street: Rs 4,400 per sq.ft (2024)
• Abdul Farooq Shahib 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Abdul Farooq Shahib 1st Cross 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)

Stamp duty and registration fee for property in Abdul Rasak Back Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Abdul Rasak Back Street?

The Sub Registrar Office that covers Abdul Rasak Back Street 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to the prevailing rates set by the government.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Abdul Rasak Back Street?

The current guideline value of Abdul Rasak Back Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Abdul Rasak Back Street?

Abdul Rasak Back Street is classified as Residential Class I Type - II under the guideline value register.

Where can I find the Sub Registrar Office for Abdul Rasak Back Street?

The Sub Registrar Office for Abdul Rasak Back Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. This office is part of the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Abdul Rasak Back Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.