Guideline Value for Hussian Basha 2ND Cross Street

Hussian Basha 2ND Cross Street guideline value

The current guideline value of Hussian Basha 2ND 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, and is classified as Residential Class I Type - I.

How the guideline value of Hussian Basha 2ND Cross Street has changed

Over the years, the guideline value of Hussian Basha 2ND Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it dropped to Rs 2,345 per sq.ft. The value then increased significantly in the 2023 revision to Rs 3,500 per sq.ft, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024, reflecting the current rate of Rs 3,850 per sq.ft.

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 for these streets is Rs 3,300 per sq.ft, placing Hussian Basha 2ND Cross Street above this median.

• Hussian Basha 1ST 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 2ND Cross Street

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

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

Which Sub Registrar Office covers Hussian Basha 2ND Cross Street?

The Sub Registrar Office that covers Hussian Basha 2ND 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Issa Pallavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately estimating the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Hussian Basha 2ND Cross Street?

The current guideline value of Hussian Basha 2ND 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 changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Hussian Basha 2ND Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Hussian Basha 2ND Cross Street?

The Pallavaram Sub Registrar Office covers Hussian Basha 2ND Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Hussian Basha 2ND Cross Street?

Hussian Basha 2ND Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.