Guideline Value for Kasi Vishwanathar Street

Kasi Vishwanathar Street guideline value

The current guideline value of Kasi Vishwanathar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kasi Vishwanathar Street has changed

The guideline value for Kasi Vishwanathar Street has seen several revisions over the years. In 2002, the guideline value was Rs 360 per sq.ft, which increased to Rs 450 per sq.ft in 2003, marking a 25% rise. The value further rose to Rs 800 per sq.ft in 2007, a significant increase of 78%. By 2012, the value changed to Rs 3,000 per sq.ft, reflecting a substantial increase of 275% from the previous revision. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a 10% rise to the current figure of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 817%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Kasi Vishwanathar Street is below this median.

• Karpaga Vinayagar Koil Street: Rs 2,750 per sq.ft (2024)
• Karaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Kesava Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Kannan Street: Rs 3,850 per sq.ft (2024)
• Kannagi Street: Rs 3,300 per sq.ft (2024)
• Kodandaramar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Vishwanathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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 detailed calculations.

Which Sub Registrar Office covers Kasi Vishwanathar Street?

The Sub Registrar Office that covers Kasi Vishwanathar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher value between the guideline value and the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kasi Vishwanathar Street?

The current guideline value of Kasi Vishwanathar Street 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 from Rs 360 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

What is the land classification for Kasi Vishwanathar Street?

Kasi Vishwanathar Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, the total fees for a 1,000 sq.ft plot would be Rs 2,97,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kasi Vishwanathar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.