Guideline Value for Md. Abdulla Street

Md. Abdulla Street guideline value

The current guideline value of Md. Abdulla 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 is classified as Residential Class II Type - I.

How the guideline value of Md. Abdulla Street has changed

The guideline value for Md. Abdulla Street has undergone several revisions over the years. The earliest recorded revision is from 2007, which set the value at Rs 1,560 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 221%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, resulting in a decline of 33%. The 2023 revision saw a notable increase to Rs 5,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 253%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

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

• Md. Abdullah 1st Lane & Street: Rs 5,500 per sq.ft (2024)
• Md. Abdulla 2nd 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 Street

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

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

Which Sub Registrar Office covers Md. Abdulla Street?

The Sub Registrar Office that covers Md. Abdulla 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 when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value as determined by the guideline register.

Frequently asked questions

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

The current guideline value of Md. Abdulla 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 from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 253% over the years.

What are the stamp duty and registration fees for property in Md. Abdulla Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Md. Abdulla Street?

The Triplicane Sub Registrar Office handles the registration for Md. Abdulla Street, located at No.182 Bharati Salai, Royapettah, Chennai-600014.

What is the land classification of Md. Abdulla Street?

Md. Abdulla Street is classified as Residential Class II Type - I according to the guideline value register.