Guideline Value for Gulam Abbas Alikhan 2nd Street

Gulam Abbas Alikhan 2nd Street guideline value

The current guideline value of Gulam Abbas Alikhan 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gulam Abbas Alikhan 2nd Street has changed

The guideline value for Gulam Abbas Alikhan 2nd Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 2,000 per sq.ft. It increased significantly to Rs 8,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, it dropped to Rs 5,360 per sq.ft, a decrease of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, followed by a further increase to Rs 8,800 per sq.ft in 2024, reflecting a 10% change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value for Gulam Abbas Alikhan 2nd Street.

• Gulam Abbas Alikhan 1st Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 3rd Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 10th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 4th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 5th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 6th Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gulam Abbas Alikhan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Gulam Abbas Alikhan 2nd Street?

The Gulam Abbas Alikhan 2nd Street is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects an accurate valuation of the property. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gulam Abbas Alikhan 2nd Street?

The current guideline value of Gulam Abbas Alikhan 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers this street?

The Chennai Central Joint II Sub Registrar Office covers Gulam Abbas Alikhan 2nd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Gulam Abbas Alikhan 2nd Street?

The land classification for Gulam Abbas Alikhan 2nd Street is Residential Special Type - II, indicating its designated use for residential purposes.