Guideline Value for Hakkimmakdam Ashraf Street (H.M.A. Street)

Hakkimmakdam Ashraf Street (H.M.A. Street) guideline value

The current guideline value of Hakkimmakdam Ashraf Street (H.M.A. Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Hakkimmakdam Ashraf Street (H.M.A. Street) has changed

The guideline value for Hakkimmakdam Ashraf Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 6,000 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 4,020 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 6,000 per sq.ft, and in the most recent revision for 2024, it rose to Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 6,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Triplicane

In Triplicane, 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 for these streets is Rs 6,600 per sq.ft, which is the same as the current value for Hakkimmakdam Ashraf Street (H.M.A. Street). Below are other streets in Triplicane with their respective guideline values:

• Haji Shaik Hussain Street: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 2nd Lane: Rs 6,600 per sq.ft (2024)
• Haji Shaik Hussain 1st Lane: Rs 6,600 per sq.ft (2024)
• Hanumantharayan Koil Lane: Rs 6,600 per sq.ft (2024)
• Hanumantharayan Koil Street: Rs 6,600 per sq.ft (2024)
• Habibullah Sahib Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Hakkimmakdam Ashraf Street (H.M.A. Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Hakkimmakdam Ashraf Street (H.M.A. Street)?

The Sub Registrar Office that covers Hakkimmakdam Ashraf Street (H.M.A. Street) is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is an important factor when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Hakkimmakdam Ashraf Street (H.M.A. Street)?

The current guideline value for Hakkimmakdam Ashraf Street (H.M.A. Street) 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 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then back to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, which is the same as the current value for Hakkimmakdam Ashraf Street (H.M.A. Street).

What are the stamp duty and registration fees for buying property in Hakkimmakdam Ashraf Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Hakkimmakdam Ashraf Street?

The Triplicane Sub Registrar Office is responsible for Hakkimmakdam Ashraf Street (H.M.A. Street), located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.