Guideline Value for Kasim Sahib Street

Kasim Sahib Street guideline value

The current guideline value of Kasim Sahib Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kasim Sahib Street has changed

The guideline value for Kasim Sahib Street has undergone several revisions over the years. The earliest recorded revision is from 2003, where the value was Rs 747 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a 7% rise. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, which was a 33% decline. In 2023, the value rose to Rs 2,000 per sq.ft, and finally, the current value is Rs 2,200 per sq.ft as of 2024, representing a 10% increase from the previous year. The register has no figure for the year 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 195%. The changes between the revisions indicate fluctuations in the guideline value, reflecting various factors influencing the property market over the years.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Kasim Sahib Street below this median.

• Kayalar Lane: Rs 3,300 per sq.ft (2024)
• Kayalar Street: Rs 2,200 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kulathu Medu: Rs 2,200 per sq.ft (2024)
• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kumaran Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kasim Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kasim Sahib Street?

The Sub Registrar Office that covers Kasim Sahib Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cantonment Pallavaram

The guideline value plays a crucial role during the registration of property transactions in Cantonment Pallavaram. It serves as the benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in real estate transactions, ensuring that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kasim Sahib Street?

The current guideline value of Kasim Sahib Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 747 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 195% over this period.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, while Kasim Sahib Street's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Kasim Sahib Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fee at Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Kasim Sahib Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.