Guideline Value for Hussian Basha Street

Hussian Basha Street guideline value

The current guideline value of Hussian Basha 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 Street has changed

The guideline value for Hussian Basha Street has seen significant changes over the years. In the 2003 revision, the value was Rs 281 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 114%. The value then jumped to Rs 3,500 per sq.ft in 2012, a remarkable increase of 483%. However, in the 2017 revision, it decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The value climbed again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1270%. The register has no figure for the year 2002 for this street.

Guideline values in Issa Pallavaram

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

• Hussian Basha Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 2ND Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 1ST Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while 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 and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hussian Basha Street?

The Sub Registrar Office that covers Hussian Basha 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

When buying or selling property in Issa Pallavaram, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the state.

The guideline value is determined by the government and is updated periodically. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Hussian Basha Street?

The current guideline value of Hussian Basha 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 significantly, from Rs 281 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1270%.

What is the median guideline value in Issa Pallavaram?

The median guideline value in Issa Pallavaram is Rs 3,300 per sq.ft, with Hussian Basha Street's value being above this median.

What are the stamp duty and registration fees for properties in Hussian Basha 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 property registrations for Hussian Basha Street?

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