Guideline Value for HABIBULLAH ROAD (PART III UPTO G.N.CHETTY STREET

Habibullah Road (Part III Upto G.N.Chetty Street guideline value

The current guideline value of Habibullah Road (Part III Upto G.N.Chetty Street) 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, classified as Commercial Special Type - III.

How the guideline value of Habibullah Road (Part III Upto G.N.Chetty Street has changed

The guideline value for Habibullah Road has seen significant changes over the years. In 2002, the value was Rs 2,543 per sq.ft, which increased to Rs 3,250 per sq.ft in 2003, marking a change of +28%. By 2007, the value rose to Rs 6,135 per sq.ft, representing an increase of +89%. The subsequent revision in 2012 saw a decrease to Rs 16,000 per sq.ft, which was a drop of -33%. However, the value surged to Rs 10,720 per sq.ft in 2017, showing a rise of +49%. The most recent revisions show that the value increased to Rs 16,000 per sq.ft in 2023, and then to Rs 17,600 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +592%. There are no figures available for any other revisions for this street in the register.

Guideline values in Tnagar

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

• Habibullah 3rd Street: Rs 17,600 per sq.ft (2024)
• Habibullah 2 Street (Part II Up To Thirumalapillai Road): Rs 17,600 per sq.ft (2024)
• Habibulla 1st Street (Part 1 Upto North Usman Road): 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 Road (Part III Upto G.N.Chetty Street

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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Habibullah Road (Part III Upto G.N.Chetty Street?

The Sub Registrar Office that covers Habibullah 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 in property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value when negotiating prices to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees. If the sale price exceeds the guideline value, the duty is charged on the sale price instead. Therefore, understanding the guideline value is essential for anyone involved in real estate transactions in Tnagar.

Frequently asked questions

What is the current guideline value of Habibullah Road?

The current guideline value of Habibullah Road (Part III Upto G.N.Chetty Street) 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, with various increases and one decrease over the years.

What is the land classification for Habibullah Road?

Habibullah Road is classified as Commercial Special Type - III, which is relevant for determining its guideline value.

Where can I find the Sub Registrar Office for Habibullah Road?

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

How is the stamp duty calculated for properties on Habibullah Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000 at 7%.