Guideline Value for KASTURI BAI NAGAR

Kasturi Bai Nagar guideline value

The current guideline value of Kasturi Bai Nagar is Rs 11,000 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kasturi Bai Nagar has changed

Over the years, the guideline value of Kasturi Bai Nagar has seen significant changes. In the 2002 revision, the guideline value was Rs 899 per sq.ft. This figure rose to Rs 995 per sq.ft in 2003, marking an increase of 11%. The value continued to rise to Rs 1,300 per sq.ft in 2007, which was a 31% increase from the previous year. A substantial jump occurred in 2012, where the value reached Rs 10,000 per sq.ft, reflecting a 669% increase from 2007. However, it then decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 10,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1124%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Kasturi Bai Nagar's 2024 figure above this median.

• Kasturibai Nagar 3rd Cross Street: Rs 11,000 per sq.ft (2024)
• Kaveri Nagar: Rs 9,900 per sq.ft (2024)
• Kaveri Street: Rs 11,000 per sq.ft (2024)
• Karikalan Street: Rs 11,000 per sq.ft (2024)
• Kannappa Nagar Extn: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 4th Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Kasturi Bai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasturi Bai Nagar?

The Sub Registrar Office that covers Kasturi Bai Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is especially important as it influences the financial obligations of the buyer during the registration process.

Frequently asked questions

What is the current guideline value of Kasturi Bai Nagar?

The current guideline value of Kasturi Bai Nagar is Rs 11,000 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 899 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 1124% over this period.

What is the land classification for Kasturi Bai Nagar?

The land classification for Kasturi Bai Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for properties in Kasturi Bai Nagar?

The stamp duty is charged at 7% and the registration fee at 2% on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 9,90,000.

Where is the Sub Registrar Office for Kasturi Bai Nagar located?

The Sub Registrar Office for Kasturi Bai Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.