Guideline Value for Kareem Mohideen Saheb 4th Street

Kareem Mohideen Saheb 4th Street guideline value

The current guideline value of Kareem Mohideen Saheb 4th 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 4th Street has changed

The guideline value for Kareem Mohideen Saheb 4th Street has seen several revisions over the years. In 2007, the value was Rs 945 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft. The changes from 2017 to 2023 represented a 49% increase, while the jump from 2023 to 2024 was 10%. Overall, from 2007 to 2024, the guideline value has increased by 482%.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, with figures 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 4th Street's 2024 figure below that median.

• Kareem Mohideen Saheb 1st Street: Rs 5,500 per sq.ft (2024)
• 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 4th 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 to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kareem Mohideen Saheb 4th Street?

The Sub Registrar Office that covers Kareem Mohideen Saheb 4th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a transaction, the guideline value is assessed alongside the sale price. The higher of the two values is used to calculate the applicable fees, ensuring compliance with local regulations and fair taxation.

Frequently asked questions

What is the current guideline value of Kareem Mohideen Saheb 4th Street?

The current guideline value of Kareem Mohideen Saheb 4th 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 a significant increase over the years. Notable revisions include a rise to Rs 5,000 per sq.ft in 2012 and a decrease to Rs 3,350 per sq.ft in 2017.

What is the land classification for Kareem Mohideen Saheb 4th Street?

Kareem Mohideen Saheb 4th Street is classified as Residential Class II Type - I, indicating its designation for residential use within the Triplicane area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 4,95,000 in fees.

Where is the Sub Registrar Office located for this street?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, and it covers Kareem Mohideen Saheb 4th Street.