Guideline Value for Kasi Maris Nagar

Kasi Maris Nagar guideline value

The current guideline value of Kasi Maris Nagar in Maduravoyal village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Virugambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Kasi Maris Nagar has changed

The guideline value for Kasi Maris Nagar has seen several revisions over the years. In 2002, the value was Rs 146 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, representing a significant increase of 213%. The value then rose to Rs 3,000 per sq.ft in 2012, which was a 500% increase from the previous revision. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a further increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 2160%. There are no figures for revisions in years other than those listed.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Kasi Maris Nagar above this median.

• KARTHIKEYAN NAGAR - Vetri Vinayagar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Veerapagu Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Variyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Valli Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Suriya Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Maris Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasi Maris Nagar?

The Sub Registrar Office that covers Kasi Maris Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the applicable stamp duty and registration fees based on the property's value. Buyers and sellers must be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Understanding the guideline value helps buyers and sellers make informed decisions during property transactions in Maduravoyal. It is essential to consult the latest revisions and values to ensure compliance with the registration requirements and to calculate the associated fees accurately.

Frequently asked questions

What is the current guideline value of Kasi Maris Nagar?

The current guideline value of Kasi Maris Nagar is Rs 3,300 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 146 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 2160% over the years.

What are the stamp duty and registration fees for properties in Kasi Maris Nagar?

For a 1,000 sq.ft plot valued at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kasi Maris Nagar?

Kasi Maris Nagar falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to ensure compliance with registration requirements and to calculate the associated fees accurately.