Guideline Value for Meersajath Hussain Street

Meersajath Hussain Street guideline value

The current guideline value of Meersajath Hussain Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Meersajath Hussain Street has changed

The guideline value for Meersajath Hussain Street has seen significant changes over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 370 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, then jumped to Rs 3,200 per sq.ft in 2012. However, by 2017, the value decreased to Rs 2,144 per sq.ft. The revisions from 2017 to 2023 saw a substantial increase to Rs 3,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,500 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +9%. The value surged by +89% from 2003 to 2007, followed by a massive increase of +357% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of +49%, culminating in a +9% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +926%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Meersajath Hussain Street's 2024 figure above this median.

• M.E.S. Road: Rs 1,900 per sq.ft (2024)
• Mariya Nayagam Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 5th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 4th Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 3rd Street: Rs 3,500 per sq.ft (2024)
• Mariya Nayagam 2nd Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Meersajath Hussain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Meersajath Hussain Street?

The Sub Registrar Office that covers Meersajath Hussain Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sembiam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a recognized value.

When you approach the registration office, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meersajath Hussain Street?

The current guideline value of Meersajath Hussain Street is Rs 3,500 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 341 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of +926% over this period.

What is the land classification for Meersajath Hussain Street?

Meersajath Hussain Street is classified as Residential Special Type - II, indicating its designation for residential use.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties on Meersajath Hussain Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 35,00,000 would incur a stamp duty of Rs 2,45,000 at 7%.