Guideline Value for Gulam Mohamed Street (Gulam Mohideen Street)

Gulam Mohamed Street (Gulam Mohideen Street) guideline value

The current guideline value of Gulam Mohamed Street (Gulam Mohideen Street) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO and is classified as Residential Class II Type - I.

How the guideline value of Gulam Mohamed Street (Gulam Mohideen Street) has changed

Over the years, the guideline value for Gulam Mohamed Street has seen significant changes. The 2007 revision set the value at Rs 710 per sq.ft, which then increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 604%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the value rose by 49%, and overall, from 2007 to 2024, the increase is 675%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the current guideline value of Gulam Mohamed Street (Gulam Mohideen Street) below this median.

• Gulam Murthuza Begum Street: Rs 5,500 per sq.ft (2024)
• Gurpan Alikhan Street: Rs 5,500 per sq.ft (2024)
• Gurusamy Street: Rs 6,600 per sq.ft (2024)
• Habibullah Sahib Cross Street: Rs 5,500 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gulam Mohamed Street (Gulam Mohideen Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gulam Mohamed Street (Gulam Mohideen Street)?

The Sub Registrar Office that covers Gulam Mohamed Street (Gulam Mohideen Street) is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Triplicane. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to ensure that the correct fees are collected. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gulam Mohamed Street (Gulam Mohideen Street)?

The current guideline value of Gulam Mohamed Street (Gulam Mohideen Street) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 710 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 675%. There were fluctuations, including a decrease in 2017 to Rs 3,350 per sq.ft.

What is the median guideline value for streets in Triplicane?

The median guideline value for the 415 streets in Triplicane is Rs 6,600 per sq.ft. The guideline value of Gulam Mohamed Street is below this median.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Gulam Mohamed Street (Gulam Mohideen Street) is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.