Guideline Value for Gulam Abbas Alikhan 9th Street

Gulam Abbas Alikhan 9th Street guideline value

The current guideline value of Gulam Abbas Alikhan 9th 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 9th Street has changed

The guideline value for Gulam Abbas Alikhan 9th Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 2,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 300%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The subsequent revision in 2023 brought it back up to Rs 8,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for Gulam Abbas Alikhan 9th Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%, showcasing significant changes over the years.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO, with guideline values 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 of Gulam Abbas Alikhan 9th Street.

• Gulam Abbas Alikhan 8th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 7th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 6th Street: Rs 8,800 per sq.ft (2024)
• Gulam Mohammed Mohideen St: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 5th Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gulam Abbas Alikhan 9th 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 be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these charges Rs 7,92,000. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gulam Abbas Alikhan 9th Street?

The Sub Registrar Office that covers Gulam Abbas Alikhan 9th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value helps in calculating the total costs involved. It is essential for both parties in a transaction to understand these values to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gulam Abbas Alikhan 9th Street?

The current guideline value of Gulam Abbas Alikhan 9th 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, reflecting an overall increase of 340% over the years.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles the registration of properties on this street?

The Chennai Central Joint II Sub Registrar Office handles the registration of properties on Gulam Abbas Alikhan 9th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Gulam Abbas Alikhan 9th Street?

The land classification for Gulam Abbas Alikhan 9th Street is Residential Special Type - II, indicating its designated use for residential purposes.