Guideline Value for Kasi Viswanathan Street

Kasi Viswanathan Street guideline value

The current guideline value of Kasi Viswanathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Kasi Viswanathan Street has changed

The guideline value for Kasi Viswanathan Street has undergone several revisions over the years. In 2002, the value was Rs 3,849 per sq.ft, which decreased significantly to Rs 392 per sq.ft in 2003. Following this, the value saw a slight increase to Rs 400 per sq.ft in 2007, then rose sharply to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,650 per sq.ft.

Between the revisions, there were notable changes. From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the value jumped by 275% from 2007 to 2012. The increase from 2003 to 2007 was minimal at 2%, and the value fell by 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 57%.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Kasi Viswanathan Street.

• Kasim Street: Rs 1,320 per sq.ft (2024)
• Kattabomman 1st Street: Rs 1,650 per sq.ft (2024)
• Kattabomman 2nd Street: Rs 1,650 per sq.ft (2024)
• Kattabomman Main Street: Rs 1,650 per sq.ft (2024)
• Kattabomman Street: Rs 1,650 per sq.ft (2024)
• Kavangarai Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Viswanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kasi Viswanathan Street?

The Sub Registrar Office that covers Kasi Viswanathan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Naravarikuppam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

Additionally, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kasi Viswanathan Street?

The current guideline value of Kasi Viswanathan Street is Rs 1,650 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 3,849 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases along the way.

What is the registration office for Kasi Viswanathan Street?

The registration office for Kasi Viswanathan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with stamp duty at 7% amounting to Rs 1,15,500 and a registration fee at 2% totaling Rs 33,000, leading to a total of Rs 1,48,500.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.