Guideline Value for KASTHURI BAI STREET

Kasthuri Bai Street guideline value

The current guideline value of Kasthuri Bai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Kasthuri Bai Street has changed

Over the years, the guideline value of Kasthuri Bai Street has undergone several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 491 per sq.ft. This increased to Rs 545 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, reflecting an increase of 83%. By 2012, the value was Rs 6,000 per sq.ft, which was a substantial increase of 500% from the previous revision. However, this value decreased to Rs 4,020 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, representing a 10% increase from the previous year.

From the 2002 revision to the current 2024 figure, the overall increase in guideline value is a remarkable 1244%. There are no years in the register with missing figures for this street.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Kasthuri Bai Street.

• Kasi Viswanathar Street: Rs 4,400 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 Kasthuri Bai 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, charged at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for stamp duty and registration fee would be Rs 5,94,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Kasthuri Bai 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 any further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kasthuri Bai Street?

The current guideline value of Kasthuri Bai 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 significantly from Rs 491 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1244% over this period.

What is the land classification for Kasthuri Bai Street?

The land classification for Kasthuri Bai Street is Residential Class II Type - I, indicating its suitability for residential purposes.

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

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

How is the stamp duty calculated for properties in Kasthuri Bai Street?

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