Guideline Value for Hussain Nagar 1st Street

Hussain Nagar 1st Street guideline value

The current guideline value of Hussain Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Special Type - V.

How the guideline value of Hussain Nagar 1st Street has changed

The guideline value for Hussain Nagar 1st Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 710 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 252% rise. However, this value then dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision saw the value increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the current value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 280%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Hussain Nagar 1st Street's 2024 guideline value is below this median.

• Hussain Mulk Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Hussain Ali Khan Cross Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Hussain Ali Khan 2nd Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Hussain Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Hussain Nagar 1st Street?

The Sub Registrar Office that covers Hussain Nagar 1st 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 information.

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

The guideline value is a crucial factor in property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and fairly, based on the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Hussain Nagar 1st Street?

The current guideline value of Hussain Nagar 1st 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 significantly from Rs 710 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Hussain Nagar 1st Street?

The Triplicane Sub Registrar Office handles property registrations for Hussain Nagar 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Hussain Nagar 1st Street?

The land classification for Hussain Nagar 1st Street is Residential Special Type - V, which indicates its designated use for residential purposes.