Guideline Value for Kareem Mohideen Saheb 1st Street

Kareem Mohideen Saheb 1st Street guideline value

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

How the guideline value of Kareem Mohideen Saheb 1st Street has changed

The guideline value for Kareem Mohideen Saheb 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which rose significantly to Rs 5,000 per sq.ft in 2012. However, this figure decreased to Rs 3,350 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 5,000 per sq.ft, and the most recent revision in 2024 set the current guideline value at Rs 5,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a substantial increase of 49%, followed by a 10% rise from 2023 to 2024. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was remarkable at 429%. Overall, the guideline value has increased by 482% from 2007 to 2024.

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 for these streets is Rs 6,600 per sq.ft, placing Kareem Mohideen Saheb 1st Street's 2024 guideline value below this median.

• Kareem Mohideen Saheb 2nd Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 3rd Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 4th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 5th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 6th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 7th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kareem Mohideen Saheb 1st 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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together 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 detailed calculations.

Which Sub Registrar Office covers Kareem Mohideen Saheb 1st Street?

The Sub Registrar Office that covers Kareem Mohideen Saheb 1st 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

The guideline value is a critical factor in property transactions in Triplicane. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to accurately calculate these costs.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price exceeds the guideline value, the duty is charged on the higher amount, ensuring that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kareem Mohideen Saheb 1st Street?

The current guideline value of Kareem Mohideen Saheb 1st 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 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 482% over the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles transactions for this street?

The Triplicane Sub Registrar Office handles transactions for Kareem Mohideen Saheb 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, placing Kareem Mohideen Saheb 1st Street's value below this median.