Guideline Value for KASTHURI NAGAR

Kasthuri Nagar guideline value

The current guideline value of Kasthuri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Special Type - III.

How the guideline value of Kasthuri Nagar has changed

The guideline value for Kasthuri Nagar has seen significant changes over the years. In 2002, the value was Rs 180 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This was a remarkable increase of 233%. The value then surged to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. Following this, the value rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, showing a 10% increase.

Overall, the guideline value has increased by 1,733% from 2002 to 2024. The register does not have a figure for the year 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Kasthuri Nagar's 2024 figure above this median.

• Kasthuri Bai Nagar: Rs 1,600 per sq.ft (2024)
• Kattabomman Street (Kallikuppam): Rs 1,100 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,700 per sq.ft (2024)
• Kaviya Nagar: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 1st STREET: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuri Nagar?

The Sub Registrar Office covering Kasthuri Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Kasthuri Nagar?

The current guideline value of Kasthuri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 180 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,733% over this period.

What is the land classification for Kasthuri Nagar?

Kasthuri Nagar is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total fees would amount to Rs 2,97,000.