Guideline Value for KASTURIBAI STREET

Kasturibai Street guideline value

The current guideline value of Kasturibai Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Kasturibai Street has changed

The guideline value for Kasturibai Street has seen several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The subsequent revisions showed a significant rise, with the value jumping to Rs 700 per sq.ft in 2007, and further increasing to Rs 2,500 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease to Rs 1,675 per sq.ft. The value then increased substantially to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is 704%. The most notable changes include an increase of 257% from 2007 to 2012 and a 49% increase from 2017 to 2023. There are no revisions for years other than those listed in the register.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with the median value being Rs 2,700 per sq.ft. Kasturibai Street's 2024 guideline value matches this median.

• Kasturibai Gandhi Nagar: Rs 4,300 per sq.ft (2024)
• Kasturibai Colony All Streets: Rs 2,700 per sq.ft (2024)
• Kathuribai Colony B Block 5th Street: Rs 2,700 per sq.ft (2024)
• Kathuribai Colony B Block 6th Street: Rs 2,700 per sq.ft (2024)
• Kathuribai Colony B Block 7th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kasturibai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasturibai Street?

The Sub Registrar Office that covers Kasturibai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kasturibai Street?

The current guideline value of Kasturibai Street is Rs 2,700 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 336 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 704% over the years.

What is the land classification of Kasturibai Street?

Kasturibai Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property in Kasturibai Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office located for Kasturibai Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.