Guideline Value for Habibullah Sahib Street

Habibullah Sahib Street guideline value

The current guideline value of Habibullah Sahib 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 Habibullah Sahib Street has changed

The guideline value for Habibullah Sahib Street has undergone several revisions over the years. In 2007, the value was Rs 1,560 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 3,350 per sq.ft, before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 253%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Habibullah Sahib Street's 2024 figure below this median.

• Habibullah Sahib Cross Street: Rs 5,500 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 2nd Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain Street: Rs 6,600 per sq.ft (2024)
• Hakkimmakdam Ashraf Street (H.M.A. Street): Rs 6,600 per sq.ft (2024)
• Gurusamy Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Habibullah Sahib 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, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Habibullah Sahib Street?

The Sub Registrar Office that covers Habibullah Sahib 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

The guideline value is a crucial factor in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Habibullah Sahib Street?

The current guideline value of Habibullah Sahib 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 seen several revisions, increasing from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 253% since 2007.

What is the land classification for Habibullah Sahib Street?

Habibullah Sahib Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Habibullah Sahib Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.