Guideline Value for KASTHURI NAGAR

Kasthuri Nagar guideline value

The current guideline value of Kasthuri Nagar, located in Thirukkachur - 1 village under the Chengleput Joint II SRO, is Rs 1,474 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Mixed Special Type - III.

How the guideline value of Kasthuri Nagar has changed

The guideline value for Kasthuri Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 1,340 per sq.ft, which saw an increase of 10% to reach Rs 1,474 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the guideline value, moving from Rs 1,340 per sq.ft in 2023 to Rs 1,474 per sq.ft in 2024. The increase indicates a shift in the valuation of properties in the area, aligning with the current market conditions.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Kasthuri Nagar is above this median, indicating a higher valuation compared to many other streets in the village.

• Kothari Nagar Phase - 3: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - I: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - II: Rs 550 per sq.ft (2024)
• Kannagi Street: Rs 550 per sq.ft (2024)
• Kambar Street: Rs 550 per sq.ft (2024)
• Kamatchi Ambal Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,474 per sq.ft, the total guideline value amounts to Rs 14,74,000. The stamp duty at 7% would be Rs 1,03,180, and the registration fee at 2% would be Rs 29,480, bringing the total cost for these fees to Rs 1,32,660. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuri Nagar?

The Sub Registrar Office that covers Kasthuri Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Thirukkachur - 1. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated accurately based on the property's valuation.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures that both buyers and sellers are aware of the financial implications associated with the property transaction.

Frequently asked questions

What is the current guideline value of Kasthuri Nagar?

The current guideline value of Kasthuri Nagar is Rs 1,474 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kasthuri Nagar has changed from Rs 1,340 per sq.ft in 2023 to Rs 1,474 per sq.ft in 2024, reflecting a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kasthuri Nagar?

Kasthuri Nagar falls under the land classification of Mixed Special Type - III, which indicates the type of development and usage allowed in the area.

How is the stamp duty calculated for properties in Kasthuri Nagar?

Stamp duty for properties in Kasthuri Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO through the provided link.