Guideline Value for Husain marakayar street

Husain marakayar street guideline value

The current guideline value of Husain marakayar street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Husain marakayar street has changed

The guideline value for Husain marakayar street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,300 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 4,355 per sq.ft. Following this, the 2023 revision saw a substantial increase to Rs 6,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 7,100 per sq.ft.

Between the revisions, the changes are notable. From 2023 to 2024, there was an increase of 9%. The jump from 2017 to 2023 was significant at 49%. In contrast, the value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was remarkable at 183%. Overall, from 2007 to 2024, the guideline value has increased by 209%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Husain marakayar street's 2024 figure above that median.

• Ibrahim Salai: Rs 11,000 per sq.ft (2024)
• Ibrahim Salai 1st lane: Rs 5,500 per sq.ft (2024)
• Ibrahim Salai 2nd lane: Rs 4,900 per sq.ft (2024)
• Grimini street: Rs 3,800 per sq.ft (2024)
• Granary street: Rs 7,100 per sq.ft (2024)
• Jaffar Sarang lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Husain marakayar street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. 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 Husain marakayar street?

The Sub Registrar Office that covers Husain marakayar street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Husain marakayar street?

The current guideline value of Husain marakayar street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 209% over the years.

What is the land classification for Husain marakayar street?

The land classification for Husain marakayar street is Residential Class I Type - II.

Which Sub Registrar Office is responsible for Husain marakayar street?

The Chennai North Joint I Sub Registrar Office is responsible for Husain marakayar street, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is the stamp duty calculated for properties on Husain marakayar street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,97,000.