Guideline Value for Kareem Mohideen Saheb 8th Street

Kareem Mohideen Saheb 8th Street guideline value

The current guideline value of Kareem Mohideen Saheb 8th 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 8th Street has changed

The guideline value register for Kareem Mohideen Saheb 8th Street does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 5,000 per sq.ft, which was then increased to Rs 5,500 per sq.ft in the 2024 revision, marking a change of +10%.

In the 2024 revision, the guideline value is set at Rs 5,500 per sq.ft. This is an increase from the previous year's value of Rs 5,000 per sq.ft established in 2023.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Kareem Mohideen Saheb 8th Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Kareem Mohideen Saheb 8th 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, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kareem Mohideen Saheb 8th Street?

The Sub Registrar Office that covers Kareem Mohideen Saheb 8th 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 in property transactions in Triplicane. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kareem Mohideen Saheb 8th Street?

The current guideline value of Kareem Mohideen Saheb 8th 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 for Kareem Mohideen Saheb 8th Street was Rs 5,000 per sq.ft in 2023 and increased to Rs 5,500 per sq.ft in 2024, marking a +10% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kareem Mohideen Saheb 8th Street?

Kareem Mohideen Saheb 8th Street is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in this area.

What are the stamp duty and registration fees for properties 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kareem Mohideen Saheb 8th Street located?

The Sub Registrar Office covering Kareem Mohideen Saheb 8th Street is located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.