Guideline Value for Haji Shaik Hussain 2nd Lane

Haji Shaik Hussain 2nd Lane guideline value

The current guideline value of Haji Shaik Hussain 2nd Lane is Rs 6,600 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 I Type - I.

How the guideline value of Haji Shaik Hussain 2nd Lane has changed

The guideline value for Haji Shaik Hussain 2nd Lane has seen several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 1,145 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a 424% rise. However, it then dropped to Rs 4,020 per sq.ft in 2017, reflecting a decrease of 33%. The value rebounded to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 476%.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Haji Shaik Hussain 2nd Lane.

• Haji Shaik Hussain 1st 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)
• Hanumantharayan Koil Lane: Rs 6,600 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)
• Hanumantharayan Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Haji Shaik Hussain 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Haji Shaik Hussain 2nd Lane?

The Sub Registrar Office that covers Haji Shaik Hussain 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Triplicane. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Haji Shaik Hussain 2nd Lane?

The current guideline value of Haji Shaik Hussain 2nd Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

What is the land classification for Haji Shaik Hussain 2nd Lane?

Haji Shaik Hussain 2nd Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additional registration fees are charged at 2% of the guideline value.

Which office handles property registrations for Haji Shaik Hussain 2nd Lane?

The Triplicane Sub Registrar Office handles property registrations for Haji Shaik Hussain 2nd Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.