Guideline Value for Abdul Kareem Lane

Abdul Kareem Lane guideline value

The current guideline value of Abdul Kareem Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Abdul Kareem Lane has changed

Over the years, the guideline value of Abdul Kareem Lane has seen significant changes. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 723 per sq.ft. This value increased to Rs 794 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,145 per sq.ft in 2007, reflecting a 44% increase. By 2012, the guideline value jumped to Rs 6,000 per sq.ft, an increase of 424%. However, it decreased to Rs 4,020 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, before reaching the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

In summary, the guideline value has changed from Rs 723 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 813%. The register has no figure for the years between 2012 and 2017, and other years listed reflect the values accurately.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 figure, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the guideline value of Abdul Kareem Lane.

• Abdul Kareem Cross Street: Rs 6,600 per sq.ft (2024)
• Abdul Kareem Street: Rs 6,600 per sq.ft (2024)
• Abdul Kader Street: Rs 6,600 per sq.ft (2024)
• Adam Salai (Swami Sivanandha Salai): Rs 13,200 per sq.ft (2024)
• Adhikesavan Street: Rs 7,700 per sq.ft (2024)
• Adhipattan Street: Rs 16,400 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Kareem Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total cost for these charges Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abdul Kareem Lane?

The Sub Registrar Office that covers Abdul Kareem Lane 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

The guideline value is a crucial factor in the registration process for property transactions in Triplicane. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government collects the appropriate taxes on property transactions.

When buying or selling property, the guideline value helps determine the legal value of the property, which can influence the final sale price. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Abdul Kareem Lane?

The current guideline value of Abdul Kareem Lane 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 changed significantly from Rs 723 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, with various increases and one decrease noted in the revisions.

What is the land classification for Abdul Kareem Lane?

Abdul Kareem Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Abdul Kareem Lane located?

The Sub Registrar Office for Abdul Kareem Lane is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Abdul Kareem Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 4,62,000.