Guideline Value for Five Huts

Five Huts guideline value

The current guideline value of Five Huts is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Cantonment Pallavaram village and falls under the Pallavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Five Huts has changed

The guideline value for Five Huts has seen several revisions over the years. Starting from Rs 123 per sq.ft in 2003, it increased significantly to Rs 300 per sq.ft in 2007, marking a change of +144%. The value then rose to Rs 2,000 per sq.ft in 2012, which was a remarkable increase of +567%. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of -33%. The subsequent revision in 2023 saw it rise to Rs 2,000 per sq.ft, a change of +49%, and the most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking an increase of +10%.

The register has no figure for the year 2002 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1689%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a range of guideline values, with 81 streets under the Pallavaram SRO carrying a 2024 figure that ranges from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing the guideline value of Five Huts below this median.

• Gandhi Street: Rs 2,700 per sq.ft (2024)
• Depot Lane: Rs 3,850 per sq.ft (2024)
• G.S.T.Main Road: Rs 11,000 per sq.ft (2024)
• Churuch Road: Rs 3,850 per sq.ft (2024)
• Chidambaranathan Street: Rs 2,700 per sq.ft (2024)
• Hospital Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Five Huts

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Five Huts?

The Sub Registrar Office that covers Five Huts 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 crucial factor in property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the property is not undervalued, safeguarding the interests of both the buyer and the government. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Five Huts?

The current guideline value of Five Huts is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 123 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing a significant overall increase of +1689%.

What is the land classification for Five Huts?

Five Huts is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Five Huts located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Five Huts?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,54,000.