Guideline Value for Gulam Abbas Alikhan Street

Gulam Abbas Alikhan Street guideline value

The current guideline value of Gulam Abbas Alikhan 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 Street has changed

The guideline value for Gulam Abbas Alikhan Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which 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, reflecting a 33% drop. The value then rose to Rs 8,000 per sq.ft in the 2023 revision, before reaching the current figure of Rs 8,800 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, 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 for these streets is Rs 8,800 per sq.ft, which is the same as the current guideline value for Gulam Abbas Alikhan Street.

• Gulam Abbas Alikhan 9th Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 8th Street: Rs 8,800 per sq.ft (2024)
• Gulam Mohammed Mohideen St: 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 Abbas Alikhan 5th Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gulam Abbas Alikhan 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, while the registration fee at 2% would be Rs 1,76,000. Together, the total cost for stamp duty and registration would be Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gulam Abbas Alikhan Street?

The Sub Registrar Office that covers Gulam Abbas Alikhan 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 more information, 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 when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, which helps maintain transparency in property transactions.

Frequently asked questions

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

The current guideline value of Gulam Abbas Alikhan 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, representing a total increase of 340% over the years.

What is the land classification for Gulam Abbas Alikhan Street?

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

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.

Where can I find the Sub Registrar Office for Gulam Abbas Alikhan Street?

The Sub Registrar Office for Gulam Abbas Alikhan Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.