Guideline Value for Hussian Basha 1ST Cross Street

Hussian Basha 1ST Cross Street guideline value

The current guideline value of Hussian Basha 1ST Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Hussian Basha 1ST Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 3,500 per sq.ft, followed by another increase to Rs 3,850 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Hussian Basha 1ST Cross Street's 2024 figure above this median.

• Hussian Basha 2ND Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Street: Rs 3,850 per sq.ft (2024)
• I.H.F.D. Colony: Rs 4,950 per sq.ft (2024)
• Hemanatha Pillai Avenue Ramlingar Street: Rs 3,850 per sq.ft (2024)
• Hemanathapillai Avenue 1: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Hussian Basha 1ST Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 information on fees.

Which Sub Registrar Office covers Hussian Basha 1ST Cross Street?

The Sub Registrar Office that covers Hussian Basha 1ST Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Hussian Basha 1ST Cross Street?

The current guideline value of Hussian Basha 1ST Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 3,500 per sq.ft in 2012, decreased to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,500 per sq.ft in 2023, followed by a rise to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Hussian Basha 1ST Cross Street?

The Pallavaram Sub Registrar Office handles registrations for Hussian Basha 1ST Cross Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Hussian Basha 1ST Cross Street?

The land classification for Hussian Basha 1ST Cross Street is Residential Class I Type - I.