Guideline Value for Haddows lane

Haddows lane guideline value

The current guideline value of Haddows lane 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. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Haddows lane has changed

The guideline value for Haddows lane has undergone several revisions over the years. In 2007, the value was set at Rs 4,700 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a significant rise of 91%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, a drop of 33%. The subsequent revision in 2017 saw a substantial increase to Rs 9,000 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 9,900 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 111%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Haddows lane's 2024 figure above this median.

• Haddows Road: Rs 11,500 per sq.ft (2024)
• Haddows Road 1st Street: Rs 9,900 per sq.ft (2024)
• Haddows Road 2nd Street: 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 lane

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

Which Sub Registrar Office covers Haddows lane?

The Sub Registrar Office that covers Haddows lane 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately according to the prevailing rates.

When a property is sold, the guideline value is considered alongside the sale price, with the higher of the two being used to determine the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Haddows lane?

The current guideline value of Haddows lane 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, reflecting an overall increase of 111% over the years.

What is the land classification for Haddows lane?

The land classification for Haddows lane is Commercial Class I Type - II.

What are the stamp duty and registration fees for property in Haddows lane?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which Sub Registrar Office covers Haddows lane?

The Chennai Central Joint II Sub Registrar Office covers Haddows lane, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.