Guideline Value for Hussain Nagar 5th Street

Hussain Nagar 5th Street guideline value

The current guideline value of Hussain Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, governed by the Triplicane SRO, and is classified as Residential Special Type - V.

How the guideline value of Hussain Nagar 5th Street has changed

The guideline value for Hussain Nagar 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 710 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 252%. The value remained unchanged at Rs 2,500 per sq.ft until the next revision in 2023.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and then increased to Rs 2,700 per sq.ft in 2024, representing an 8% increase. The overall change from 2007 to 2024 shows a rise of 280% in the guideline value for this street.

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. The median guideline value in this area is Rs 6,600 per sq.ft, indicating that Hussain Nagar 5th Street's 2024 figure is below that median.

• Hussain Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Hussain Nagar 1st 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 5th 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, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers Hussain Nagar 5th Street?

The Sub Registrar Office that covers Hussain Nagar 5th Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration of property transactions in Triplicane. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the transfer of property ownership.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value for which the property can be registered. This helps maintain transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Hussain Nagar 5th Street?

The current guideline value of Hussain Nagar 5th 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 increased 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 stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which office handles property registrations for Hussain Nagar 5th Street?

The Triplicane Sub Registrar Office handles property registrations for Hussain Nagar 5th Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value in Triplicane?

The median guideline value in Triplicane is Rs 6,600 per sq.ft, indicating that Hussain Nagar 5th Street's current value is below this median.