Guideline Value for Abdul Kareem Street

Abdul Kareem Street guideline value

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

How the guideline value of Abdul Kareem Street has changed

Over the years, the guideline value of Abdul Kareem Street has undergone several revisions. In 2007, the guideline value was Rs 1,794 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 234%. However, the value then decreased to Rs 4,020 per sq.ft in 2017, reflecting a drop of 33%. The most recent figures show that the guideline value rose to Rs 6,000 per sq.ft in 2023, and further increased by 10% to Rs 6,600 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 268%.

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 is Rs 6,600 per sq.ft, which is equal to the current guideline value of Abdul Kareem Street.

• Abdul Kareem Lane: Rs 6,600 per sq.ft (2024)
• Abdul Kareem Cross 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 Street

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, charged at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees total Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abdul Kareem Street?

The Sub Registrar Office that covers Abdul Kareem 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.

Additionally, the guideline value serves as a benchmark for property transactions, helping buyers and sellers understand the expected value of properties in the area. It is essential to be aware of the current guideline value to make informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Abdul Kareem Street?

The current guideline value of Abdul Kareem 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 changed from Rs 1,794 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 268%.

What are the stamp duty and registration fees for property in Abdul Kareem Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office covers Abdul Kareem Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Abdul Kareem Street?

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