Guideline Value for Hussain Nagar 3rd Street

Hussain Nagar 3rd Street guideline value

The current guideline value of Hussain Nagar 3rd 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 3rd Street has changed

The guideline value for Hussain Nagar 3rd Street has seen 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, marking a 252% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an 8% increase from the previous year.

The register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Hussain Nagar 3rd Street's 2024 value below that median.

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

Stamp duty and registration fee for property in Hussain Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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 or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hussain Nagar 3rd Street?

The Sub Registrar Office that covers Hussain Nagar 3rd 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. When a buyer and seller agree on a sale price, the registration process will consider the higher of the sale price or the guideline value.

This ensures that the property is registered at a value that reflects its worth according to government standards. It is essential for buyers and sellers to be aware of the current guideline values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Hussain Nagar 3rd Street?

The current guideline value of Hussain Nagar 3rd 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, marking an overall increase of 280%.

What are the other streets in Triplicane with the same guideline value?

Other streets in Triplicane with the same guideline value of Rs 2,700 per sq.ft in 2024 include Hussain Nagar 1st Street, Hussain Nagar 2nd Street, Hussain Nagar 4th Street, and Hussain Nagar 5th Street.

What fees are involved when registering property in Hussain Nagar 3rd Street?

When registering property, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for Hussain Nagar 3rd Street located?

The Sub Registrar Office for Hussain Nagar 3rd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.