Guideline Value for Hospital Street

Hospital Street guideline value

The current guideline value of Hospital Street in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Hospital Street has changed

The guideline value for Hospital Street has seen several revisions over the years. Starting from Rs 660 per sq.ft in 2003, it increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 52%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and as of 2024, it has further increased to Rs 2,700 per sq.ft, an 8% rise from the previous year.

It is important to note that the register does not have a figure for Hospital Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 309%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram features a range of guideline values across its 81 streets under the Pallavaram SRO, with figures for 2024 ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Hospital Street.

• Hussain Saheb St: Rs 2,700 per sq.ft (2024)
• Indragandhi Road: Rs 5,500 per sq.ft (2024)
• Ismoil Street: Rs 3,300 per sq.ft (2024)
• G.S.T.Main Road: Rs 11,000 per sq.ft (2024)
• Jaganthan Street: Rs 3,300 per sq.ft (2024)
• Janab Ismail Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Hospital Street?

The Sub Registrar Office that covers Hospital Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Cantonment Pallavaram. When a property is registered, the guideline value is used to determine the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Hospital Street?

The current guideline value of Hospital Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 660 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, with several revisions over the years reflecting both increases and decreases.

Where can I find the Sub Registrar Office for Hospital Street?

The Pallavaram Sub Registrar Office covers Hospital Street and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the stamp duty for a property on Hospital Street?

The stamp duty for a property on Hospital Street is calculated at 7% of the guideline value. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.

What is the land classification for Hospital Street?

Hospital Street is classified as Residential Class II Type - I, which is important for understanding its use and potential development.