Guideline Value for Gulam Mohammed Mohideen St

Gulam Mohammed Mohideen St guideline value

The current guideline value of Gulam Mohammed Mohideen St 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 Mohammed Mohideen St has changed

The guideline value for Gulam Mohammed Mohideen St has undergone several revisions over the years. In 2002, the guideline value was Rs 1,136 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007, marking a significant rise of 76%. The value then surged to Rs 8,000 per sq.ft in 2012, reflecting a 300% increase. However, it decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, reaching Rs 8,000 per sq.ft in 2023, and then rose by 10% to the current Rs 8,800 per sq.ft in 2024.

The register does not contain a figure for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 675%, demonstrating 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 aligns with the current value of Gulam Mohammed Mohideen St.

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

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, bringing the total fees 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.

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

Which Sub Registrar Office covers Gulam Mohammed Mohideen St?

The Sub Registrar Office that covers Gulam Mohammed Mohideen St is 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing market standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gulam Mohammed Mohideen St?

The current guideline value of Gulam Mohammed Mohideen St 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 1,136 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 675% 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 Sub Registrar Office covers this street?

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

What is the land classification for Gulam Mohammed Mohideen St?

The land classification for Gulam Mohammed Mohideen St is Residential Special Type - II, indicating its designated use within the area.