Guideline Value for KASTHURI AVENUE

Kasthuri Avenue guideline value

The current guideline value of Kasthuri Avenue is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Kasthuri Avenue has changed

The guideline value for Kasthuri Avenue has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 2,990 per sq.ft, which increased to Rs 3,321 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 3,430 per sq.ft in 2007, a modest growth of 3%. A substantial jump occurred in the 2012 revision, where the value remained at Rs 16,000 per sq.ft, reflecting a 366% increase from the previous figure. The guideline value did not change in 2023, maintaining the Rs 16,000 per sq.ft figure.

The most recent revision in 2024 has set the guideline value at Rs 17,600 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 489%, showing a significant rise over the years.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Kasthuri Avenue's 2024 figure above that median.

• Kasim Sahib Street: Rs 3,300 per sq.ft (2024)
• Kattabomman Street: Rs 3,300 per sq.ft (2024)
• Kattukoil: Rs 3,300 per sq.ft (2024)
• Karpagambal Nagar: Rs 11,500 per sq.ft (2024)
• Karpagambal Main Road: Rs 11,500 per sq.ft (2024)
• Karpagam Avenue (Sai Nagar): Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, resulting in a total of Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kasthuri Avenue?

The Sub Registrar Office that covers Kasthuri Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When you sell a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is particularly important for tax purposes. This value is also used to assess the market conditions and property worth within the locality.

Frequently asked questions

What is the current guideline value of Kasthuri Avenue?

The current guideline value of Kasthuri Avenue is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 2,990 per sq.ft to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 489%.

What is the land classification for Kasthuri Avenue?

Kasthuri Avenue is classified as Residential Special Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Kasthuri Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000 at 7%.