Guideline Value for HABIBULLAH 2 STREET (PART II UP TO THIRUMALAPILLAI ROAD)

Habibullah 2 Street (Part II Up To Thirumalapillai Road) guideline value

The current guideline value of Habibullah 2 Street (Part II Up To Thirumalapillai Road) is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the jurisdiction of the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Habibullah 2 Street (Part II Up To Thirumalapillai Road) has changed

The guideline value for Habibullah 2 Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 2,543 per sq.ft. This increased to Rs 3,250 per sq.ft in 2003, marking a change of +28%. The value then rose significantly to Rs 6,135 per sq.ft in 2007, which was a +89% increase. Following this, the 2012 revision set the value at Rs 16,000 per sq.ft, reflecting a notable +161% change from the previous figure. However, the value decreased to Rs 10,720 per sq.ft in 2017, showing a decline of -33%.

In the subsequent revisions, the value increased to Rs 16,000 per sq.ft in 2023, which was a +49% rise. The most recent revision in 2024 has set the guideline value at Rs 17,600 per sq.ft, representing a +10% increase from the 2023 figure. The overall change from 2002 to 2024 is +592%. There are no figures available for years other than those mentioned.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Habibullah 2 Street's current value above this median.

• Habibulla 1st Street (Part 1 Upto North Usman 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 Habibullah 2 Street (Part II Up To Thirumalapillai Road)

For a 1,000 sq.ft plot at the current rate of Rs 17,600 per sq.ft, the guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be 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 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 Habibullah 2 Street (Part II Up To Thirumalapillai Road)?

The Sub Registrar Office that covers Habibullah 2 Street (Part II Up To Thirumalapillai 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 is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall costs involved in the transaction. The registration process requires that the property be valued at the guideline rate or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Habibullah 2 Street?

The current guideline value of Habibullah 2 Street (Part II Up To Thirumalapillai 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 significantly, from Rs 2,543 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of +592%.

What is the land classification of Habibullah 2 Street?

Habibullah 2 Street is classified as Commercial Special Type - III, which indicates its intended use for commercial activities.

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

The Sub Registrar Office for Habibullah 2 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at 7% of the guideline value.