Guideline Value for Dr.Niyamathullah Saheb Street

Dr.Niyamathullah Saheb Street guideline value

The current guideline value of Dr.Niyamathullah Saheb Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Dr.Niyamathullah Saheb Street has changed

Over the years, the guideline value of Dr.Niyamathullah Saheb Street has seen significant changes. The earliest recorded revision for this street is from 2007, where the guideline value was Rs 945 per sq.ft. This figure then rose dramatically to Rs 6,000 per sq.ft in 2012, marking an increase of 535%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 6,000 per sq.ft, an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002 and 2003 for Dr.Niyamathullah Saheb Street. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is the same as the current guideline value for Dr.Niyamathullah Saheb Street.

• Dr.Govindhan Street: Rs 6,600 per sq.ft (2024)
• Dr.Besant Road: Rs 13,200 per sq.ft (2024)
• Dowlath Khan Bahadur Street: Rs 6,600 per sq.ft (2024)
• Ellaiyamman Koil Street: Rs 6,600 per sq.ft (2024)
• Ellis 1st Lane: Rs 6,600 per sq.ft (2024)
• Ellis 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Niyamathullah Saheb Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.Niyamathullah Saheb Street?

The Sub Registrar Office that covers Dr.Niyamathullah Saheb Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it influences the overall cost of property transactions. Ensuring compliance with the guideline value helps in smooth registration and avoids any legal issues that may arise from undervaluation or overvaluation.

Frequently asked questions

What is the current guideline value of Dr.Niyamathullah Saheb Street?

The current guideline value of Dr.Niyamathullah Saheb 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 significantly from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 598% over the years.

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

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

Which office handles the registration for properties on Dr.Niyamathullah Saheb Street?

The Triplicane Sub Registrar Office handles the registration for properties on Dr.Niyamathullah Saheb Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Dr.Niyamathullah Saheb Street?

Dr.Niyamathullah Saheb Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.