Guideline Value for Kareem Mohideen Saheb 6th Street

Kareem Mohideen Saheb 6th Street guideline value

The current guideline value of Kareem Mohideen Saheb 6th 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 6th Street has changed

The guideline value for Kareem Mohideen Saheb 6th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 945 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 429%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by another increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 482%. It is important to note that there are no recorded figures for this street in the years 2002 and 2003.

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 for these streets is Rs 6,600 per sq.ft, placing Kareem Mohideen Saheb 6th Street's 2024 figure below that median.

• Kareem Mohideen Saheb 5th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 7th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 4th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 8th Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 3rd Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kareem Mohideen Saheb 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kareem Mohideen Saheb 6th Street?

The Sub Registrar Office that covers Kareem Mohideen Saheb 6th 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 plays a crucial role during the registration process of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value for Kareem Mohideen Saheb 6th Street?

The current guideline value for Kareem Mohideen Saheb 6th 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, showing an overall increase of 482% over the years.

What are the stamp duty rates applicable in Triplicane?

The stamp duty rate in Triplicane is 7%, which is calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Kareem Mohideen Saheb 6th Street?

The Sub Registrar Office for Kareem Mohideen Saheb 6th Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Kareem Mohideen Saheb 6th Street?

Kareem Mohideen Saheb 6th Street is classified as Residential Class II Type - I under the Triplicane SRO.