Guideline Value for Kareem Subedar Lane

Kareem Subedar Lane guideline value

The current guideline value of Kareem Subedar Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kareem Subedar Lane has changed

The guideline value for Kareem Subedar Lane has seen several revisions over the years. In 2002, the value was Rs 484 per sq.ft, which increased to Rs 531 per sq.ft in 2003. The subsequent revision in 2007 saw a significant rise to Rs 1,145 per sq.ft, followed by a jump to Rs 5,000 per sq.ft in 2012. However, the value decreased to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023 and then to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,036%. The register has no figures for the years between 2012 and 2017.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value range 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 Subedar Lane's 2024 figure below that median.

• Kareem Subebar Street: Rs 6,600 per sq.ft (2024)
• Kareem Mohideen Saheb Street: Rs 5,500 per sq.ft (2024)
• Kareem Mohideen Saheb 8th Street: Rs 5,500 per sq.ft (2024)
• 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 5th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kareem Subedar Lane

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, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kareem Subedar Lane?

The Sub Registrar Office that covers Kareem Subedar Lane 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 is a critical factor in the registration process for property transactions in Triplicane. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kareem Subedar Lane?

The current guideline value of Kareem Subedar Lane 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 484 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1,036% over this period.

What are the stamp duty rates for property in Kareem Subedar Lane?

The stamp duty rate for property in Kareem Subedar Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kareem Subedar Lane located?

The Sub Registrar Office for Kareem Subedar Lane is located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the range of guideline values in Triplicane?

The guideline values in Triplicane range from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft.