Guideline Value for HABIBULLA 1ST STREET (PART 1 UPTO NORTH USMAN ROAD)

Habibulla 1st Street (Part 1 Upto North Usman Road) guideline value

The current guideline value for Habibulla 1st Street (Part 1 Upto North Usman Road) is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Habibulla 1st Street (Part 1 Upto North Usman Road) has changed

The guideline value for Habibulla 1st Street has seen several revisions over the years. In 2007, the value was Rs 6,135 per sq.ft, which increased significantly to Rs 16,000 per sq.ft by 2012. However, it then decreased to Rs 10,720 per sq.ft in 2017. The value rose again to Rs 16,000 per sq.ft in 2023 before reaching the current value of Rs 17,600 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, from 2007 to 2012, there was a remarkable increase of 161%. However, the value fell by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and has increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 187%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Habibulla 1st Street's current guideline value of Rs 17,600 per sq.ft is above this median.

• Habibullah 2 Street (Part II Up To Thirumalapillai Road): Rs 17,600 per sq.ft (2024)
• Habibullah 3rd Street: Rs 17,600 per sq.ft (2024)
• Habibullah Road (Part III Upto G.N.Chetty Street): Rs 17,600 per sq.ft (2024)
• Hanumantha Rao Road(Street)(Cross Street): Rs 9,900 per sq.ft (2024)
• Guild Street: Rs 9,900 per sq.ft (2024)
• Hindi Prachar Sabha Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Habibulla 1st Street (Part 1 Upto North Usman Road)

For a 1,000 sq.ft plot at the current rate of Rs 17,600 per sq.ft, the guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Habibulla 1st Street (Part 1 Upto North Usman Road)?

The Sub Registrar Office that covers Habibulla 1st Street (Part 1 Upto North Usman Road) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tnagar. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the Registration Department. This is important for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Habibulla 1st Street?

The current guideline value of Habibulla 1st Street (Part 1 Upto North Usman Road) is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,135 per sq.ft in 2007 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 187% over the years.

What is the land classification for Habibulla 1st Street?

Habibulla 1st Street is classified as Commercial Special Type - III, indicating its suitability for commercial activities.

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

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35, and it covers Habibulla 1st Street.

What are the stamp duty rates for properties in Tnagar?

The stamp duty for properties in Tnagar is currently set at 7%, which is calculated on the higher of the guideline value or the sale price during the registration process.