Guideline Value for KASTHURI BAI NAGAR

Kasthuri Bai Nagar guideline value

The current guideline value of Kasthuri Bai Nagar is Rs 502 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Kasthuri Bai Nagar has changed

Over the years, the guideline value of Kasthuri Bai Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and finally to Rs 502 per sq.ft in the 2024 revision. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, the change from 2023 to 2024 is negligible, with an increase of 0%. Overall, from 2012 to 2024, there has been no change in the guideline value, remaining at Rs 502 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the guideline value of Kasthuri Bai Nagar above the median.

• Kansanbai Nagar: Rs 502 per sq.ft (2024)
• Kalavathi Nagar: Rs 200 per sq.ft (2024)
• Maruthi Avenue: Rs 250 per sq.ft (2024)
• Gokul Garden: Rs 502 per sq.ft (2024)
• Moogambigai Nagar: Rs 226 per sq.ft (2024)
• Ganesh Ram Nagar: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Bai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 502 per sq.ft, the guideline value amounts to Rs 5,02,000. The stamp duty at 7% would be Rs 35,140, and the registration fee at 2% would be Rs 10,040, making the total cost Rs 45,180. 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 more details.

Which Sub Registrar Office covers Kasthuri Bai Nagar?

The Sub Registrar Office that covers Kasthuri Bai Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor when buying or selling property in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction process.

When a property is sold, the buyer and seller must ensure that the sale price is in accordance with the guideline value to avoid any legal issues during registration. The guideline value helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kasthuri Bai Nagar?

The current guideline value of Kasthuri Bai Nagar is Rs 502 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 502 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Kasthuri Bai Nagar?

Kasthuri Bai Nagar falls under the Residential Special Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Kasthuri Bai Nagar?

For a 1,000 sq.ft plot, the stamp duty would be Rs 35,140, and the registration fee would be Rs 10,040, totaling Rs 45,180. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kasthuri Bai Nagar?

The Sub Registrar Office for Kasthuri Bai Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.