Guideline Value for Haddows Road 2nd Street

Haddows Road 2nd Street guideline value

The current guideline value of Haddows Road 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, classified as Commercial Class I Type - II.

How the guideline value of Haddows Road 2nd Street has changed

The guideline value for Haddows Road 2nd Street has seen several revisions over the years. The 2007 revision set the value at Rs 4,700 per sq.ft, which increased to Rs 9,000 per sq.ft in the 2012 revision, marking a significant rise of 91%. However, in the 2017 revision, the value dropped to Rs 6,030 per sq.ft, reflecting a decrease of 33%. The value then surged to Rs 9,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 9,900 per sq.ft in the 2024 revision, which is a rise of 10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 111%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing the 2024 guideline value of Haddows Road 2nd Street above this median.

• Haddows Road 1st Street: Rs 9,900 per sq.ft (2024)
• Haddows Road: Rs 11,500 per sq.ft (2024)
• Haddows lane: Rs 9,900 per sq.ft (2024)
• Gulam Mohammed Mohideen St: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan Street: Rs 8,800 per sq.ft (2024)
• Gulam Abbas Alikhan 9th Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Haddows Road 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000, bringing the total fees together to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Haddows Road 2nd Street?

The Sub Registrar Office that covers Haddows Road 2nd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nungambakkam, as it is the basis for calculating stamp duty and registration fees. When a property is bought or sold, the transaction must be registered with the Sub Registrar Office, and the applicable fees are determined based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately determining the costs associated with property transactions. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Haddows Road 2nd Street?

The current guideline value of Haddows Road 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 111% over the years.

What is the land classification for Haddows Road 2nd Street?

Haddows Road 2nd Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Haddows Road 2nd Street?

The Sub Registrar Office for Haddows Road 2nd Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Nungambakkam?

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 99,00,000 would incur a stamp duty of Rs 6,93,000 at 7%.