Guideline Value for Abdulrazak Street

Abdulrazak Street guideline value

The current guideline value of Abdulrazak Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Abdulrazak Street has changed

The guideline value for Abdulrazak Street has undergone several revisions over the years. In 2003, the guideline value was Rs 111 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then saw a remarkable rise to Rs 3,500 per sq.ft in 2012, but it dropped to Rs 2,345 per sq.ft in 2017. Following this, the value increased to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,850 per sq.ft in the 2024 revision.

Notably, the register has no figure for this street in 2002. The changes between the revisions are as follows: from 2003 to 2007, the value increased by 170%; from 2007 to 2012, it increased by 1067%; however, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, from 2023 to 2024, it rose by 10%. Overall, from 2003 to 2024, the guideline value has increased by 3368%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, making Abdulrazak Street's 2024 figure of Rs 3,850 per sq.ft above that median.

• Adinaidu Street: Rs 2,200 per sq.ft (2024)
• Albert Lane: Rs 2,200 per sq.ft (2024)
• Anthoniya Street: Rs 2,200 per sq.ft (2024)
• Appavoo Naicken Street: Rs 2,700 per sq.ft (2024)
• Arian Street: Rs 2,200 per sq.ft (2024)
• Arumalai Chavadi: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Abdulrazak Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to 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 Abdulrazak Street?

The Sub Registrar Office that covers Abdulrazak 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, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Abdulrazak Street?

The current guideline value of Abdulrazak Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 111 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, with various increases and decreases along the way.

Where can I find the registration office for Abdulrazak Street?

The registration office for Abdulrazak Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in Abdulrazak Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,46,500.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum value for property registration, ensuring that appropriate stamp duty and registration fees are collected by the government during property transactions.