Guideline Value for KASTURIBAI NAGAR 3RD CROSS STREET

Kasturibai Nagar 3rd Cross Street guideline value

The current guideline value for Kasturibai Nagar 3rd Cross Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Kasturibai Nagar 3rd Cross Street has changed

The guideline value for Kasturibai Nagar 3rd Cross Street has seen several revisions over the years. Starting from Rs 899 per sq.ft in 2002, the value increased to Rs 995 per sq.ft in 2003, marking a 11% rise. It further rose to Rs 1,300 per sq.ft in 2007, a significant increase of 31%. The value then jumped dramatically to Rs 10,000 per sq.ft in 2012, reflecting a 669% increase. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1124%. The register does not have figures for revisions in years other than those specified.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing Kasturibai Nagar 3rd Cross Street's 2024 value above this median.

• Kasturi Bai Nagar: 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 Kasturibai Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the 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 Kasturibai Nagar 3rd Cross Street?

The Sub Registrar Office covering Kasturibai Nagar 3rd Cross Street 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Kasturibai Nagar 3rd Cross Street?

The current guideline value of Kasturibai Nagar 3rd Cross Street 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 over the years, increasing from Rs 899 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, which is an overall increase of 1124%.

What is the land classification for Kasturibai Nagar 3rd Cross Street?

Kasturibai Nagar 3rd Cross Street is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Kasturibai Nagar 3rd Cross Street 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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 at a rate of 7%.