Guideline Value for KASI VISWANATHAR STREET

Kasi Viswanathar Street guideline value

The current guideline value of Kasi Viswanathar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Kasi Viswanathar Street has changed

The guideline value for Kasi Viswanathar Street has undergone several revisions over the years. In 2002, the value was Rs 633 per sq.ft. This increased to Rs 702 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 42% increase. Following this, the value jumped dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 300% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally, it reached the current figure of Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available in the register for the years not listed above. The overall change from 2002 to 2024 shows a significant increase of 595% in the guideline value.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Kasi Viswanathar Street's 2024 figure below that median.

• Kasthuri Bai Street: Rs 6,600 per sq.ft (2024)
• Kavarai Street(North): Rs 5,000 per sq.ft (2024)
• Kavarai Street (South): Rs 5,000 per sq.ft (2024)
• Kavarai Street (West): Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 2st Cross Street: Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 3st Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Viswanathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kasi Viswanathar Street?

The Sub Registrar Office that covers Kasi Viswanathar Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mambalam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value is set by the government and is revised periodically to reflect changes in the real estate market.

When a property is registered, the stamp duty is 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.

Frequently asked questions

What is the current guideline value of Kasi Viswanathar Street?

The current guideline value of Kasi Viswanathar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 633 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 595% over this period.

What is the land classification of Kasi Viswanathar Street?

The land classification for Kasi Viswanathar Street is Residential Class III Type - III.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

The Sub Registrar Office for Kasi Viswanathar Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.