Guideline Value for Kasim Street

Kasim Street guideline value

The current guideline value of Kasim Street in Naravarikuppam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Kasim Street has changed

The guideline value for Kasim Street has seen several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which then decreased to Rs 353 per sq.ft in 2003, marking a significant drop of 90%. Following this, the value rose to Rs 400 per sq.ft in 2007, an increase of 13%, and then saw a substantial jump to Rs 1,200 per sq.ft in 2012, reflecting a 200% increase. However, the value fell to Rs 804 per sq.ft in 2017, a decrease of 33%.

In the more recent revisions, the guideline value increased to Rs 1,200 per sq.ft in 2023, a rise of 49% from 2017, and finally reached Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Kasim Street's 2024 figure is below that median.

• Kasi Viswanathan Street: Rs 1,650 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 Kasim Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kasim Street?

The Sub Registrar Office that covers Kasim 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value will influence the costs involved, including stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect their overall expenses during the transaction.

Frequently asked questions

What is the current guideline value of Kasim Street?

The current guideline value of Kasim Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a 62% decrease overall.

What is the land classification for Kasim Street?

Kasim Street is classified as Residential Class III Type - I.

What are the other streets in Naravarikuppam with their guideline values?

Other streets in Naravarikuppam include Kasi Viswanathan Street, Kattabomman 1st Street, Kattabomman 2nd Street, Kattabomman Main Street, Kattabomman Street, and Kavangarai Street, with values ranging from Rs 1,320 to Rs 1,650 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Kasim Street?

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