Guideline Value for Hussain Street

Hussain Street guideline value

The current guideline value of Hussain Street in Oragadam village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Hussain Street has changed

The guideline value for Hussain Street has undergone several revisions over the years. In 2012, the value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 2,200 per sq.ft in 2023, and further increased to Rs 2,400 per sq.ft in 2024, marking a 9% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not have figures for the years 2002, 2003, or 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Hussain Street's 2024 figure above this median.

• Hussian Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Imanuvel Nagar: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Cross Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Indira Gandhi Street (1st Ward): Rs 1,300 per sq.ft (2024)
• Indira Gandhi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Indira Gandhi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Hussain Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value would be Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total Rs 2,16,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hussain Street?

The Sub Registrar Office that covers Hussain Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Oragadam, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for any property transaction.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Hussain Street?

The current guideline value of Hussain Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Hussain Street?

Hussain Street is classified as Residential Special Type - I according to the land classification in the area.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,16,000.

Which office handles the registration for Hussain Street?

The registration for Hussain Street is handled by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.