Guideline Value for ABDUL RAZACK STREET

Abdul Razack Street guideline value

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

How the guideline value of Abdul Razack Street has changed

Since the year 2002, the guideline value for Abdul Razack Street has seen significant changes. In 2002, the guideline value was Rs 1,209 per sq.ft. This increased to Rs 1,513 per sq.ft in 2003, marking a change of +25%. The value further rose to Rs 2,860 per sq.ft in 2007, reflecting an increase of +89%. By 2012, the value reached Rs 6,000 per sq.ft, which was a substantial increase of +110%. However, from 2012 to 2017, the guideline value dropped to Rs 4,020 per sq.ft, a decrease of -33%. The value then increased again to Rs 6,000 per sq.ft in 2023, showing a rise of +49%, and finally, it stands at Rs 6,600 per sq.ft in 2024, marking an increase of +10%.

There are no figures available for the revisions in years other than those listed. The overall increase from 2002 to 2024 is +446%.

Guideline values in Saidapet

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

• Abdul Razack Sahin Street (Anna Nagar): Rs 6,600 per sq.ft (2024)
• Abdul Razack 2nd Street: Rs 6,600 per sq.ft (2024)
• Abdul Razack 1st 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 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 to Rs 5,94,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abdul Razack Street?

The Sub Registrar Office that covers Abdul Razack 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official registry. This helps maintain transparency and consistency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Abdul Razack Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,209 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +446%.

What is the median guideline value for streets in Saidapet?

The median guideline value for the 106 streets in Saidapet under the Chennai South Joint II SRO is Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for properties in Abdul Razack Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 4,62,000, and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

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

The Sub Registrar Office for Abdul Razack 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.