Guideline Value for Md. Abdulla 2nd Street

Md. Abdulla 2nd Street guideline value

The current guideline value of Md. Abdulla 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Md. Abdulla 2nd Street has changed

The guideline value for Md. Abdulla 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,560 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 221%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rebounded in 2023 to Rs 5,000 per sq.ft, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 253%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Md. Abdulla 2nd Street is below this median.

• Md. Abdullah 1st Lane & Street: Rs 5,500 per sq.ft (2024)
• Md. Abdulla Street: Rs 5,500 per sq.ft (2024)
• Meeran Saheb Street: Rs 14,300 per sq.ft (2024)
• Massudhi Street / Small Massudhi (Mosque Street & Lane): Rs 6,600 per sq.ft (2024)
• Maroof Saheb Street: Rs 5,500 per sq.ft (2024)
• Maroof Saheb Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Md. Abdulla 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on these fees.

Which Sub Registrar Office covers Md. Abdulla 2nd Street?

The Sub Registrar Office that covers Md. Abdulla 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal valuation of the property. It is essential for calculating the applicable fees and ensuring compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Md. Abdulla 2nd Street?

The current guideline value of Md. Abdulla 2nd Street is Rs 5,500 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 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 253%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office covers Md. Abdulla 2nd Street, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Md. Abdulla 2nd Street?

Md. Abdulla 2nd Street falls under the Residential Class II Type - I land classification.