Guideline Value for Hecde Road

Hecde Road guideline value

The current guideline value of Hecde Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Hecde Road has changed

Over the years, the guideline value of Hecde Road has seen several revisions. Starting from the 2007 revision, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a 133% rise. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 7,000 per sq.ft, followed by the current value of Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

In summary, the guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, resulting in an overall increase of 157%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value range from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that Hecde Road's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Hecde Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hecde Road?

The Sub Registrar Office that covers Hecde Road 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 additional information.

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

The guideline value is a crucial factor in property transactions in Nungambakkam, as it determines the minimum value at which properties can be registered. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Understanding the guideline value helps in budgeting for these expenses effectively.

Frequently asked questions

What is the current guideline value of Hecde Road?

The current guideline value of Hecde Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which means Hecde Road's current value is below this median.

What are the stamp duty and registration fees for Hecde Road?

For a property valued at Rs 77,00,000, the stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Hecde Road?

The Chennai Central Joint II Sub Registrar Office handles registrations for Hecde Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.