Guideline Value for Gulam Abbas Alikhan 6th Street

Gulam Abbas Alikhan 6th Street guideline value

The current guideline value of Gulam Abbas Alikhan 6th Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO, and it falls under the land classification of Residential Special Type - II.

How the guideline value of Gulam Abbas Alikhan 6th Street has changed

The guideline value for Gulam Abbas Alikhan 6th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in the 2012 revision, marking a 300% rise. However, in the 2017 revision, the value decreased to Rs 5,360 per sq.ft, representing a decline of 33%. The value then rose to Rs 8,000 per sq.ft in the 2023 revision, a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

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 value is Rs 8,800 per sq.ft, which is equal to the guideline value of Gulam Abbas Alikhan 6th Street.

• Gulam Abbas Alikhan 5th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 7th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 4th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 8th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 3rd Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 9th Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gulam Abbas Alikhan 6th Street

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

Which Sub Registrar Office covers Gulam Abbas Alikhan 6th Street?

The Gulam Abbas Alikhan 6th 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 need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value. This ensures compliance with the regulations set forth by the Registration Department, which uses these values to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Gulam Abbas Alikhan 6th Street?

The current guideline value of Gulam Abbas Alikhan 6th 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 significantly from Rs 2,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 340%.

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

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 7,92,000.

Which Sub Registrar Office handles registrations for this street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Gulam Abbas Alikhan 6th Street, located in Alwarpet, Chennai.

What is the land classification for Gulam Abbas Alikhan 6th Street?

The land classification for Gulam Abbas Alikhan 6th Street is Residential Special Type - II.