Guideline Value for Kasim Ali Street

Kasim Ali Street guideline value

The current guideline value of Kasim Ali 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 Street has changed

The guideline value for Kasim Ali Street has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 945 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a rise 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, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 598%. There are no figures available for the years 2002 and 2003 in the register 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 value among these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value for Kasim Ali Street.

• Kasim Ali 2nd Street: Rs 6,600 per sq.ft (2024)
• Kasim Ali 1st 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 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, making the total cost for these fees Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kasim Ali Street?

Kasim Ali Street falls under the jurisdiction of 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 when buying or selling property in Triplicane. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kasim Ali Street?

The current guideline value of Kasim Ali 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 increased 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 Street?

Kasim Ali Street is classified as Residential Class I Type - I under the Triplicane SRO.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated on property transactions?

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