Guideline Value for Hasimin Street

Hasimin Street guideline value

The current guideline value of Hasimin Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Hasimin Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. It then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Hasimin Street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Hasimin Street.

• Hirumagal Nagar 2st Street: Rs 1,650 per sq.ft (2024)
• Homes Road: Rs 4,400 per sq.ft (2024)
• Ibrahim Street: Rs 1,650 per sq.ft (2024)
• Ilango St: Rs 1,650 per sq.ft (2024)
• Guhan Street: Rs 1,650 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Hasimin Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Hasimin Street?

The Sub Registrar Office that covers Hasimin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Hasimin Street?

The current guideline value of Hasimin Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,650 per sq.ft in 2024. It was Rs 1,500 per sq.ft in 2023, Rs 1,005 per sq.ft in 2017, and Rs 1,500 per sq.ft in 2012.

What is the land classification of Hasimin Street?

Hasimin Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

What are the registration fees for property in Hasimin Street?

The registration fees for property in Hasimin Street include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Where is the Sub Registrar Office for Hasimin Street located?

The Sub Registrar Office for Hasimin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.