Guideline Value for Syful Mulk Nawab Street

Syful Mulk Nawab Street guideline value

The current guideline value of Syful Mulk Nawab Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Syful Mulk Nawab Street has changed

The guideline value for Syful Mulk Nawab Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, this figure decreased by 33% to Rs 4,355 per sq.ft in the 2017 revision. The value then rose by 49% to Rs 6,500 per sq.ft in the 2023 revision, before reaching the current value of Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

It is important to note that there are no figures available for Syful Mulk Nawab Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 492%.

Guideline values in Egmore

In Egmore village, there are a total of 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value of Syful Mulk Nawab Street.

• Syful Mulk Nawab 2nd Lane: Rs 7,100 per sq.ft (2024)
• Syful Mulk Nawab 1st Lane: Rs 7,100 per sq.ft (2024)
• Tailors Lane: Rs 11,000 per sq.ft (2024)
• Tailos Salai: Rs 15,000 per sq.ft (2024)
• Tamil Salai: Rs 13,400 per sq.ft (2024)
• Tarapore Avenue: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Syful Mulk Nawab Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty is charged at 7%, resulting in Rs 4,97,000, while the registration fee at 2% amounts to Rs 1,42,000. Together, the total cost for these fees is Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Syful Mulk Nawab Street?

The Sub Registrar Office that covers Syful Mulk Nawab Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

When buying or selling property in Egmore, the guideline value plays a crucial role in determining the official value of the property for registration purposes. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

The guideline value is essential for both buyers and sellers, as it provides a standardized measure of property value within the locality. This helps in maintaining transparency in property transactions and ensures that all parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Syful Mulk Nawab Street?

The current guideline value of Syful Mulk Nawab Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting a significant increase over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 71,00,000, the stamp duty is Rs 4,97,000 and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office handles registrations for this street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Syful Mulk Nawab Street.

What is the land classification for Syful Mulk Nawab Street?

The land classification for Syful Mulk Nawab Street is Residential Class II Type - I, indicating its suitability for residential purposes.