Guideline Value for Kasi Estate 1st Street

Kasi Estate 1st Street guideline value

The current guideline value of Kasi Estate 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Kasi Estate 1st Street has changed

Over the years, the guideline value of Kasi Estate 1st Street has seen significant changes. The 2007 revision set the value at Rs 2,110 per sq.ft, which was a substantial increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has further increased the value to Rs 6,600 per sq.ft, marking a 10% rise from the previous year.

There are years where the register has no figure for this street, specifically in 2002, 2003, and 2017. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 213% in the guideline value.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value. The values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Kasi Estate 1st Street is above this median.

• Kasi Estate: Rs 6,600 per sq.ft (2024)
• Kasi Estate 2nd Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 3rd Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 4th Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 5th Street: Rs 6,600 per sq.ft (2024)
• Kasikulam: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Estate 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total charges to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasi Estate 1st Street?

The Sub Registrar Office that covers Kasi Estate 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kasi Estate 1st Street?

The current guideline value of Kasi Estate 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,110 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 213% over the years.

What is the land classification for Kasi Estate 1st Street?

The land classification for Kasi Estate 1st Street is Residential Class II Type - II.

Where can I find the registration office for properties in Kasi Estate 1st Street?

The registration office for properties in Kasi Estate 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.