Guideline Value for Hasan Nagar

Hasan Nagar guideline value

The current guideline value of Hasan Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Hasan Nagar has changed

The guideline value for Hasan Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 85 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a rise of 1,312%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,453%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Hasan Nagar is above this median.

• Hayath Nagar: Rs 830 per sq.ft (2024)
• Haritha Nagar: Rs 830 per sq.ft (2024)
• Hamithiya Nagar: Rs 1,320 per sq.ft (2024)
• Haji Anserdeen Avenue: Rs 3,300 per sq.ft (2024)
• Hagiyar Nagar: Rs 3,300 per sq.ft (2024)
• Illagi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Hasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for stamp duty and registration fees to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Hasan Nagar?

The Hasan Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as determined by the state.

When engaging in property transactions, it is essential to be aware of the current guideline value, as it directly affects the overall costs involved in the registration process. Buyers and sellers should always check the latest figures to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Hasan Nagar?

The current guideline value of Hasan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 85 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,453%.

What are the stamp duty rates for properties in Hasan Nagar?

The stamp duty for properties in Hasan Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for property transactions?

The registration fee for property transactions in Hasan Nagar is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Hasan Nagar?

The Padappai Sub Registrar Office covers Hasan Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.