Guideline Value for Gulam Murthuza Begum Street

Gulam Murthuza Begum Street guideline value

The current guideline value of Gulam Murthuza Begum 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 Murthuza Begum Street has changed

The guideline value for Gulam Murthuza Begum Street has undergone several revisions over the years. In 2007, the value was Rs 3,088 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a 62% rise. However, this value dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. In 2023, the value saw a significant increase to Rs 5,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 78%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Gulam Murthuza Begum Street is below this median.

• Gulam Mohamed Street (Gulam Mohideen 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 Murthuza Begum Street

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

Which Sub Registrar Office covers Gulam Murthuza Begum Street?

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

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

When buying or selling property in Triplicane, the guideline value plays a crucial role in determining the registration charges. The guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly impact the total costs involved in property transactions. Proper understanding of these values can facilitate smoother transactions and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gulam Murthuza Begum Street?

The current guideline value of Gulam Murthuza Begum 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 3,088 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 78% over the years.

What is the land classification for Gulam Murthuza Begum Street?

Gulam Murthuza Begum Street is classified as Residential Class II Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Gulam Murthuza Begum Street is set at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Gulam Murthuza Begum Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.