Guideline Value for Kasi Avenue

Kasi Avenue guideline value

The current guideline value of Kasi Avenue in Srinivasapuram village, under the Kunrathur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kasi Avenue has changed

The guideline value for Kasi Avenue has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this figure dropped to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, before reaching the current figure of Rs 2,000 per sq.ft in 2024, an increase of 11% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The changes between the revisions illustrate a fluctuating trend, with notable increases in the years leading up to the current valuation.

Guideline values in Srinivasapuram

Srinivasapuram has a range of guideline values across its 39 streets under the Kunrathur SRO, with the 2024 figures ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, placing Kasi Avenue's 2024 figure above this median.

• Kamatchi amman Nagar: Rs 2,000 per sq.ft (2024)
• Indira Nagar Extension: Rs 1,550 per sq.ft (2024)
• Indira Nagar: Rs 1,550 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,550 per sq.ft (2024)
• Marshal Lay out: Rs 1,550 per sq.ft (2024)
• M.G.R. Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the guideline value totals Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making a total of Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasi Avenue?

The Sub Registrar Office that covers Kasi Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Srinivasapuram. It determines the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately with the government. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value helps in assessing the official value of the property. It is essential for both parties to understand how this value impacts the overall costs involved in the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Kasi Avenue?

The current guideline value of Kasi Avenue is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2024, reflecting a total increase of 400% over this period.

What is the land classification for Kasi Avenue?

Kasi Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kasi Avenue?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which office handles the registration for properties in Kasi Avenue?

The Kunrathur Sub Registrar Office handles the registration for properties in Kasi Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.