Guideline Value for HOSPITAL ROAD

Hospital Road guideline value

The current guideline value of Hospital Road in Saidapet village is Rs 6,050 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Hospital Road has changed

Starting from the 2002 revision, the guideline value for Hospital Road was Rs 806 per sq.ft. This figure increased to Rs 1,101 per sq.ft in 2003, marking a change of +37%. In 2007, the value saw a significant rise to Rs 1,300 per sq.ft, reflecting an increase of +18%. The 2012 revision set the value at Rs 5,500 per sq.ft, which was a substantial increase of +323% from the previous figure.

In 2017, the guideline value was revised to Rs 3,685 per sq.ft, showing a decrease of -33%. The value then rose to Rs 5,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 6,050 per sq.ft, indicating an increase of +10%. The overall change from 2002 to 2024 is +651%. There are no figures available for the years not listed in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Hospital Road's 2024 figure above this median.

• Hospital Road 1st Lane: Rs 5,500 per sq.ft (2024)
• Hospital Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ilaiyalvar Koil Street: Rs 4,400 per sq.ft (2024)
• Gulabchand Bora Street: Rs 4,400 per sq.ft (2024)
• Geenis Road: Rs 8,800 per sq.ft (2024)
• Jayaram Chetty Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total to Rs 5,44,500. It is important to note that the 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 Hospital Road?

The Sub Registrar Office that covers Hospital Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers must be aware of the guideline value to ensure they comply with the registration requirements set by the Chennai South Joint II SRO.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 806 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, representing an overall increase of +651%.

What is the land classification for Hospital Road?

Hospital Road is classified as Residential Class I Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties on Hospital Road?

For a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500 and the registration fee would be Rs 1,21,000, totaling Rs 5,44,500.

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

The Sub Registrar Office for Hospital Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.