Guideline Value for Hussain Sahib Street

Hussain Sahib Street guideline value

The current guideline value of Hussain Sahib Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class II Type - I.

How the guideline value of Hussain Sahib Street has changed

The guideline value for Hussain Sahib Street has undergone several revisions over the years. In 2003, the value was Rs 797 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,800 per sq.ft. The register has no figure for the year 2002 for this street.

From 2017 to 2023, the value increased by 49%. Between 2012 and 2017, there was a decrease of 33%. The jump from 2007 to 2012 was a notable increase of 250%, while the rise from 2003 to 2007 was 25%. Overall, from 2003 to 2024, the guideline value has increased by 377%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, making Hussain Sahib Street's 2024 figure below that median.

• Hacker Jason Lane: Rs 3,800 per sq.ft (2024)
• Isaac Street: Rs 4,400 per sq.ft (2024)
• Govindappa Naicken Street Segment-2 (Annapillai Street- Amman Koil Street): Rs 8,800 per sq.ft (2024)
• Govindappa Naicken Street Segment-1 (NSC - Annapillai Street): Rs 13,000 per sq.ft (2024)
• Jason Street: Rs 4,900 per sq.ft (2024)
• Godown Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Hussain Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, leading to a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Hussain Sahib Street?

The Sub Registrar Office that covers Hussain Sahib Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Hussain Sahib Street?

The current guideline value of Hussain Sahib Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 797 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Hussain Sahib Street's value being below this median.

What are the stamp duty and registration fees for property in Hussain Sahib Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, leading to a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Hussain Sahib Street?

The Sowcarpet Sub Registrar Office handles registrations for Hussain Sahib Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.