Guideline Value for KASTURI NAGAR

Kasturi Nagar guideline value

The current guideline value of Kasturi Nagar is Rs 165 per sq.ft, effective from 1 July 2024. This area is located in Vazhuthigaimedu village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Kasturi Nagar has changed

The guideline value for Kasturi Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 150 per sq.ft. This was followed by a decrease to Rs 100 per sq.ft in 2017, reflecting a -33% change. In 2023, the value increased to Rs 150 per sq.ft, and then further increased to Rs 165 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vazhuthigaimedu

In Vazhuthigaimedu, there are four streets under the Thiruvottiyur SRO that carry a 2024 guideline value of Rs 165 per sq.ft, with this figure being equal to the median value for the village. The other streets in Vazhuthigaimedu include:

• Prince Avenue: Rs 165 per sq.ft (2024)
• Arr City Sabarish Garden: Rs 165 per sq.ft (2024)
• Sri Sankara Velvan Nagar: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Kasturi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value amounts to Rs 1,65,000. The stamp duty, charged at 7%, would be Rs 11,550, while the registration fee at 2% would be Rs 3,300. Therefore, the total cost for stamp duty and registration fee would be Rs 14,850. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasturi Nagar?

Kasturi Nagar falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Vazhuthigaimedu. It serves as a benchmark for determining the stamp duty and registration fees applicable on property sales. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency and fairness in the registration process.

Frequently asked questions

What is the current guideline value of Kasturi Nagar?

The current guideline value of Kasturi Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023, and finally to Rs 165 per sq.ft in 2024.

What are the other streets in Vazhuthigaimedu with the same guideline value?

Other streets in Vazhuthigaimedu that share the same guideline value of Rs 165 per sq.ft include Prince Avenue, Arr City Sabarish Garden, and Sri Sankara Velvan Nagar.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 1,65,000. The stamp duty is Rs 11,550 and the registration fee is Rs 3,300, totaling Rs 14,850.

Which office handles registrations for Kasturi Nagar?

The Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, handles registrations for Kasturi Nagar.