Guideline Value for Kasiammal Nagar

Kasiammal Nagar guideline value

The current guideline value of Kasiammal Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Kasiammal Nagar has changed

The guideline value for Kasiammal Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. However, this figure decreased to Rs 804 per sq.ft in the 2017 revision. The most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, marking a 62% rise from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Kasiammal Nagar is below this median.

• Kasiammal Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Karunanithi Street (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Kasthuri 1st Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 2nd Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 3rd Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 4th Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kasiammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasiammal Nagar?

The Madhavaram Sub Registrar Office covers Kasiammal Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value is an important factor during the registration of property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair price of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during transactions.

Frequently asked questions

What is the current guideline value of Kasiammal Nagar?

The current guideline value of Kasiammal Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there is an 8% increase.

What is the land classification of Kasiammal Nagar?

Kasiammal Nagar is classified as Residential Class III Type - I. This classification is important for understanding the zoning and permissible land use in the area.

What are the stamp duty and registration fees for property in Kasiammal Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kasiammal Nagar?

The Madhavaram Sub Registrar Office handles registrations for Kasiammal Nagar. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.