Guideline Value for Kasim Ali 2nd Street

Kasim Ali 2nd Street guideline value

The current guideline value of Kasim Ali 2nd Street is Rs 6,600 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 I Type - I.

How the guideline value of Kasim Ali 2nd Street has changed

The guideline value for Kasim Ali 2nd Street has seen several revisions over the years. The 2007 revision set the value at Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023 before reaching the current figure of Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 598%. The register has no figures for the years 2002 and 2003 for this street.

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 the area is Rs 6,600 per sq.ft, which is the same as the current guideline value for Kasim Ali 2nd Street.

• Kasim Ali 1st 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 2nd 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, leading to a total of Rs 5,94,000. 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 Kasim Ali 2nd Street?

The Sub Registrar Office that covers Kasim Ali 2nd 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 is a crucial factor during property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration norms.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kasim Ali 2nd Street?

The current guideline value of Kasim Ali 2nd 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, marking an overall increase of 598% over the years.

What is the land classification for Kasim Ali 2nd Street?

Kasim Ali 2nd Street is classified as Residential Class I Type - I according to the local land classification regulations.

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

The Sub Registrar Office covering Kasim Ali 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the total stamp duty and registration fees would amount to Rs 5,94,000.