Guideline Value for Murthuja Hussian Sahib Street

Murthuja Hussian Sahib Street guideline value

The current guideline value of Murthuja Hussian Sahib Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Murthuja Hussian Sahib Street has changed

The guideline value for Murthuja Hussian Sahib Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which then decreased significantly to Rs 353 per sq.ft in 2003. The value saw a slight increase to Rs 400 per sq.ft in 2007, followed by a substantial rise to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017 before reaching Rs 1,200 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 62%. The changes between the revisions reflect various fluctuations, with the most notable increase being 200% from 2007 to 2012 and a significant rise of 49% from 2017 to 2023.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Murthuja Hussian Sahib Street's 2024 figure below that median.

• Mugamathu Nayakkar Street: Rs 1,320 per sq.ft (2024)
• Moulana Abdul Kalam Street: Rs 1,650 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 2,200 per sq.ft (2024)
• Muthusha Hussain Street: Rs 1,320 per sq.ft (2024)
• M.K. Gandhi Street: Rs 1,320 per sq.ft (2024)
• Nara Lane: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Murthuja Hussian Sahib Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Murthuja Hussian Sahib Street?

The Sub Registrar Office that covers Murthuja Hussian Sahib Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. 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 registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations. Buyers and sellers should be aware of the guideline value to understand the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Murthuja Hussian Sahib Street?

The current guideline value of Murthuja Hussian Sahib Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a decrease of 62% over this period.

What is the land classification for Murthuja Hussian Sahib Street?

The land classification for Murthuja Hussian Sahib Street is Residential Class III Type - I.

Where can I find the registration office for this street?

The registration office for Murthuja Hussian Sahib Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft has a guideline value of Rs 13,20,000, leading to specific stamp duty and registration fees.