Guideline Value for ABDUL RAZACK 2ND STREET

Abdul Razack 2nd Street guideline value

The current guideline value of Abdul Razack 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Abdul Razack 2nd Street has changed

The guideline value for Abdul Razack 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 744 per sq.ft, which increased to Rs 931 per sq.ft in 2003, marking a change of +25%. The value saw a significant rise to Rs 1,600 per sq.ft in 2007, a change of +72%. However, it was revised to Rs 6,000 per sq.ft in 2012, which represented a decline of -33%. The value then increased to Rs 4,020 per sq.ft in 2017, reflecting a change of +49%. In 2023, the guideline value was Rs 6,000 per sq.ft, and the most recent revision in 2024 set it at Rs 6,600 per sq.ft, an increase of +10%.

There are no figures available for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by +787%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Abdul Razack 2nd Street's 2024 figure above this median.

• Abdul Razack 1st Street: Rs 6,600 per sq.ft (2024)
• Abdul Razack Sahin Street (Anna Nagar): Rs 6,600 per sq.ft (2024)
• Abdul Razack Street: Rs 6,600 per sq.ft (2024)
• Abith Colony: Rs 4,400 per sq.ft (2024)
• Alandur Road: Rs 6,050 per sq.ft (2024)
• Amma Kannammal Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Razack 2nd Street

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. The duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Abdul Razack 2nd Street?

The Sub Registrar Office that covers Abdul Razack 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Saidapet. It serves as a benchmark for determining the minimum value of a property when registering a sale. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abdul Razack 2nd Street?

The current guideline value of Abdul Razack 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 744 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +787%.

What is the land classification for Abdul Razack 2nd Street?

The land classification for Abdul Razack 2nd Street is Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Abdul Razack 2nd Street located?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.