Guideline Value for Subedar Hussain Street

Subedar Hussain Street guideline value

The current guideline value of Subedar Hussain Street is Rs 6,600 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 I Type - I.

How the guideline value of Subedar Hussain Street has changed

The guideline value for Subedar Hussain Street has undergone several revisions over the years. In 2002, the value was Rs 674 per sq.ft, which increased to Rs 740 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase of 111% to reach Rs 1,560 per sq.ft in 2007. Following this, the value surged by 285% to Rs 6,000 per sq.ft in 2012, but then decreased by 33% to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 879%. There are no figures available for the revisions in years other than those specified.

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 value for these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Subedar Hussain Street.

• Subramania Chetty Street: Rs 5,500 per sq.ft (2024)
• Subbarayan Street: Rs 6,600 per sq.ft (2024)
• Subramania Mudali Street: Rs 5,500 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Chetty Street: Rs 6,600 per sq.ft (2024)
• Subadral St: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subedar Hussain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subedar Hussain Street?

The Subedar Hussain Street is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process adheres to legal standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Subedar Hussain Street?

The current guideline value of Subedar Hussain Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 674 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 879%.

What are the stamp duty and registration fees for property in Subedar Hussain Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for Subedar Hussain Street?

The Triplicane Sub Registrar Office handles the registration for Subedar Hussain Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.