Guideline Value for Hussain Nagar 2nd Street

Hussain Nagar 2nd Street guideline value

The current guideline value of Hussain Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Hussain Nagar 2nd Street has changed

The guideline value for Hussain Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 710 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value dropped to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 saw a rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,700 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 252%. However, from 2012 to 2017, there was a decrease of 33%. In the following years, the value rose by 49% from 2017 to 2023 and then by 8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 280%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a guideline value for 2024, 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, placing Hussain Nagar 2nd Street's 2024 figure below that median.

• Hussain Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Hussain Mulk Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Hussain Ali Khan Cross Street: Rs 6,600 per sq.ft (2024)
• Hussain Nagar 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Hussain Nagar 2nd 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hussain Nagar 2nd Street?

The Sub Registrar Office that covers Hussain Nagar 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 information.

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

The guideline value is a critical factor when buying or selling property in Triplicane. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the official value of the property, which impacts the overall cost of the transaction. It is essential for both parties to understand how this value is calculated and applied to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Hussain Nagar 2nd 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 710 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with notable increases and decreases in between, such as a drop to Rs 1,675 per sq.ft in 2017.

What is the land classification for Hussain Nagar 2nd Street?

The land classification for Hussain Nagar 2nd Street is Residential Special Type - V.

Where can I find the Sub Registrar Office for Hussain Nagar 2nd Street?

The Sub Registrar Office for Hussain Nagar 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Hussain Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.