Guideline Value for Zakir Hussain Street

Zakir Hussain Street guideline value

The current guideline value of Zakir Hussain Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Zakir Hussain Street has changed

The guideline value for Zakir Hussain Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 171 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 134%. The value then saw a substantial increase to Rs 700 per sq.ft in 2012, which was a 75% increase from the previous revision. However, between 2012 and 2017, the value decreased by 33% to Rs 469 per sq.ft. In 2023, the guideline value rose to Rs 700 per sq.ft, and the latest revision in 2024 has set it at Rs 770 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. It is noteworthy that the register does not have a figure for Zakir Hussain Street for the year 2002.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, making the current value of Zakir Hussain Street equal to this median.

• V.P. Chinthan Street: Rs 660 per sq.ft (2024)
• V.O.C. Street: Rs 770 per sq.ft (2024)
• Vivakanandar Street: Rs 770 per sq.ft (2024)
• Videsh Sanchar Nigam Employees Co-Operative Socity: Rs 2,500 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Zakir Hussain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Zakir Hussain Street?

The Sub Registrar Office that covers Zakir Hussain Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor used during the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives its due revenue from property transactions.

When you buy or sell a property, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it reflects the official value set by the government.

Frequently asked questions

What is the current guideline value of Zakir Hussain Street?

The current guideline value of Zakir Hussain Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 350% over this period.

What is the registration office for Zakir Hussain Street?

The registration office for Zakir Hussain 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.

Are there other streets with the same guideline value in Padiyanallur?

Yes, there are other streets in Padiyanallur with the same guideline value of Rs 770 per sq.ft, including V.O.C. Street and Vivakanandar Street.