Guideline Value for Raza Hyder Street

Raza Hyder Street guideline value

The current guideline value of Raza Hyder Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane Sub Registrar Office (SRO), with a land classification of Residential Class II Type - I.

How the guideline value of Raza Hyder Street has changed

The guideline value for Raza Hyder Street has undergone several revisions over the years. In 2002, the guideline value was Rs 508 per sq.ft, which increased to Rs 558 per sq.ft in 2003. Following this, there was a significant rise to Rs 945 per sq.ft in 2007, and then a substantial jump to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in 2017. The guideline value then rose to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 5,500 per sq.ft.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was remarkable at 429%, while from 2003 to 2007, it rose by 69%. Additionally, there was a 10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 983%.

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. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Raza Hyder Street's 2024 figure below this median.

• Rasool Omar Bahadur Street: Rs 7,700 per sq.ft (2024)
• Rasool Omar Bahadur 7th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 6th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 5th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 4th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 3rd Lane (Street): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raza Hyder 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.

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

Which Sub Registrar Office covers Raza Hyder Street?

The Sub Registrar Office that covers Raza Hyder 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 details.

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

The guideline value is an essential factor when buying or selling property in Triplicane. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers must be aware of these values to ensure they are prepared for the financial obligations involved in the property purchase.

Frequently asked questions

What is the current guideline value for Raza Hyder Street?

The current guideline value for Raza Hyder 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, increasing from Rs 508 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 983%.

What is the stamp duty rate for properties in Raza Hyder Street?

The stamp duty rate for properties in Raza Hyder Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Raza Hyder Street located?

The Sub Registrar Office for Raza Hyder Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are the other streets in Triplicane with their guideline values?

Other streets in Triplicane include Rasool Omar Bahadur Street at Rs 7,700 per sq.ft, and several lanes of Rasool Omar Bahadur at Rs 6,600 per sq.ft.