Guideline Value for KASTHURIBAI STREET

Kasthuribai Street guideline value

The current guideline value of Kasthuribai Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Kasthuribai Street has changed

The guideline value for Kasthuribai Street has seen various revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was revised to Rs 3,000 per sq.ft, marking no change from the previous revision. However, the 2024 revision increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from 2023.

Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kasthuribai Street.

• Karunanithi Street: Rs 3,300 per sq.ft (2024)
• Kattabomman Street: Rs 3,850 per sq.ft (2024)
• Katvindhan Street: Rs 2,750 per sq.ft (2024)
• Kennadi Street: Rs 3,520 per sq.ft (2024)
• Kennedy Street (Naidu Shop Street): Rs 3,520 per sq.ft (2024)
• Karikalan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuribai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kasthuribai Street?

The Sub Registrar Office that covers Kasthuribai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, 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 collects appropriate taxes on property transactions, reflecting the value of the real estate in the area.

Frequently asked questions

What is the current guideline value of Kasthuribai Street?

The current guideline value of Kasthuribai Street 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 from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There was no change between the 2012 and 2023 revisions.

What is the land classification for Kasthuribai Street?

Kasthuribai Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.

What are the registration fees for a property on Kasthuribai Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for properties in Zaminpallavaram?

The Pallavaram Sub Registrar Office handles registrations for properties in Zaminpallavaram, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.