Guideline Value for Kasim Ali 1st Street

Kasim Ali 1st Street guideline value

The current guideline value of Kasim Ali 1st Street is Rs 6,600 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 I Type - I.

How the guideline value of Kasim Ali 1st Street has changed

The guideline value for Kasim Ali 1st Street has seen several revisions over the years. In the 2007 revision, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a remarkable increase of 535%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then rose again to Rs 6,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 6,600 per sq.ft in the 2024 revision, representing a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 598%. 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, 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, which is the same as the current value for Kasim Ali 1st Street.

• Kasim Ali 2nd Street: Rs 6,600 per sq.ft (2024)
• Kasim Ali Street: Rs 6,600 per sq.ft (2024)
• Karpagakanni Amman Koil Street: Rs 2,700 per sq.ft (2024)
• Karpagakanni Amman Koil 5th Lane: Rs 2,700 per sq.ft (2024)
• Karpagakanni Amman Koil 4th Lane: Rs 2,700 per sq.ft (2024)
• Karpagakanni Amman Koil 3rd Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kasim Ali 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total costs together to Rs 5,94,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kasim Ali 1st Street?

The Sub Registrar Office that covers Kasim Ali 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 plays a crucial role in 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. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the sale.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that the revenue collected by the government reflects the value of properties in the area.

Frequently asked questions

What is the current guideline value of Kasim Ali 1st Street?

The current guideline value of Kasim Ali 1st Street is Rs 6,600 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 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What is the land classification for Kasim Ali 1st Street?

Kasim Ali 1st Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kasim Ali 1st Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.