Guideline Value for Kasiappar Street

Kasiappar Street guideline value

The current guideline value of Kasiappar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Kasiappar Street has changed

The guideline value for Kasiappar Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,750 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

In terms of changes, the guideline value increased by 525% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, there was a significant increase of 49% from 2017 to 2023, and a further rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values in 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kasiappar Street's 2024 figure above this median.

• Kaveri Lane Salomon Street: Rs 2,200 per sq.ft (2024)
• Karpaga Vinayakar Koil Street: Rs 1,600 per sq.ft (2024)
• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 1st Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar: Rs 4,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kasiappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 Kasiappar Street?

The Sub Registrar Office covering Kasiappar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures transparency in property transactions and helps maintain a consistent approach to property valuation within the region.

Frequently asked questions

What is the current guideline value of Kasiappar Street?

The current guideline value of Kasiappar Street is Rs 2,750 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 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 588% over this period.

What is the land classification for Kasiappar Street?

Kasiappar Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property on Kasiappar Street?

For a property valued at Rs 27,50,000 (1,000 sq.ft at Rs 2,750 per sq.ft), the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Kasiappar Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.