Guideline Value for Hussain Ali Khan 2nd Street

Hussain Ali Khan 2nd Street guideline value

The current guideline value of Hussain Ali Khan 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class I Type - I.

How the guideline value of Hussain Ali Khan 2nd Street has changed

The guideline value for Hussain Ali Khan 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 945 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the guideline value to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 598%, showcasing a substantial rise in the value over the years.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Hussain Ali Khan 2nd Street.

• Hussain Ali Khan 1st Street: Rs 6,600 per sq.ft (2024)
• Hussain Ali Khan Cross Street: Rs 6,600 per sq.ft (2024)
• Hussain Mulk Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Hussain Ali Khan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hussain Ali Khan 2nd Street?

The Sub Registrar Office that covers Hussain Ali Khan 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is an essential factor during property transactions in Triplicane, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Hussain Ali Khan 2nd Street?

The current guideline value of Hussain Ali Khan 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking a total increase of 598% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Hussain Ali Khan 2nd Street?

The Triplicane Sub Registrar Office handles property registrations for Hussain Ali Khan 2nd Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is crucial for determining the minimum registration value of a property, which affects the stamp duty and registration fees during a transaction. It ensures transparency and compliance with legal standards in property dealings.