Guideline Value for Kasi Estate 2nd Street

Kasi Estate 2nd Street guideline value

The current guideline value of Kasi Estate 2nd 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 2nd Street has changed

Over the years, the guideline value for Kasi Estate 2nd Street has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 2,110 per sq.ft. This figure rose to Rs 6,000 per sq.ft in 2012, marking an increase of 184%. The 2023 revision maintained this figure at Rs 6,000 per sq.ft, but the latest 2024 revision has increased it to Rs 6,600 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 213%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, making the current figure for Kasi Estate 2nd Street above this median.

• Kasi Estate 1st Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 3rd Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate: 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value would be 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, making the total Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasi Estate 2nd Street?

The Sub Registrar Office that covers Kasi Estate 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Kasi Estate 2nd Street?

The current guideline value of Kasi Estate 2nd 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 2nd Street?

The land classification for Kasi Estate 2nd Street is Residential Class II Type - II.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office for Kasi Estate 2nd Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is 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, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.