Guideline Value for Usman Khan Street

Usman Khan Street guideline value

The current guideline value of Usman Khan Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Usman Khan Street has changed

The guideline value for Usman Khan Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,560 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, representing a change of +221%. The value remained unchanged at Rs 5,000 per sq.ft in the 2023 revision.

In the most recent 2024 revision, the guideline value increased to Rs 5,500 per sq.ft, marking a +10% change from the previous year. Overall, from 2007 to 2024, the guideline value has increased by +253%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which means Usman Khan Street's 2024 figure is below that median.

• Unnis Ali Street: Rs 6,600 per sq.ft (2024)
• Unnis Ali 2nd Lane: Rs 6,600 per sq.ft (2024)
• Unnis Ali 1st Lane: Rs 6,600 per sq.ft (2024)
• Ulagappan Street: Rs 6,600 per sq.ft (2024)
• Vallabha Agraharam Street: Rs 7,700 per sq.ft (2024)
• Towlath Khan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Usman Khan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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, bringing the total cost for these charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Usman Khan Street?

The Sub Registrar Office that covers Usman Khan 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 information.

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

When buying or selling property in Triplicane, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding these values can help in better financial planning and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Usman Khan Street?

The current guideline value of Usman Khan 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 from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of +253% over the years.

What is the stamp duty rate for property in Usman Khan Street?

The stamp duty rate for property transactions in Usman Khan Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Usman Khan Street located?

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

What are the guideline values of other streets in Triplicane?

Other streets in Triplicane have varying guideline values, with some streets like Unnis Ali Street and Vallabha Agraharam Street having values of Rs 6,600 per sq.ft and Rs 7,700 per sq.ft respectively in 2024.