Guideline Value for KASTHURI SRIRAM NAGAR

Kasthuri Sriram Nagar guideline value

The current guideline value of Kasthuri Sriram Nagar is Rs 820 per sq.ft, effective from 1 July 2024. This area is located in Mepur village under the Kunrathur SRO, and it is classified as Residential Special Type - IV.

How the guideline value of Kasthuri Sriram Nagar has changed

In the 2017 revision, the guideline value was set at Rs 500 per sq.ft. This increased to Rs 747 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 820 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,955 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing the guideline value of Kasthuri Sriram Nagar above this median.

• Madheena Garden: Rs 820 per sq.ft (2024)
• Mayavan Nagar: Rs 770 per sq.ft (2024)
• Golden City: Rs 770 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 770 per sq.ft (2024)
• M R Manickam Nagar: Rs 660 per sq.ft (2024)
• Navasakthi Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Sriram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 820 per sq.ft, the total guideline value amounts to Rs 8,20,000. The stamp duty at 7% would be Rs 57,400, and the registration fee at 2% would be Rs 16,400, bringing the total cost for these fees to Rs 73,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuri Sriram Nagar?

The Sub Registrar Office that covers Kasthuri Sriram Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mepur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kasthuri Sriram Nagar?

The current guideline value of Kasthuri Sriram Nagar is Rs 820 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2017 to Rs 820 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Mepur and their guideline values?

Other streets in Mepur include Madheena Garden at Rs 820 per sq.ft, Mayavan Nagar at Rs 770 per sq.ft, and several others ranging from Rs 660 to Rs 820 per sq.ft.

What is the stamp duty for property in Kasthuri Sriram Nagar?

The stamp duty for property in Kasthuri Sriram Nagar is 7% of the guideline value. For example, a property valued at Rs 8,20,000 would incur a stamp duty of Rs 57,400.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Kasthuri Sriram Nagar.