Guideline Value for Kasiviswanathan Colony 2nd Street

Kasiviswanathan Colony 2nd Street guideline value

The current guideline value of Kasiviswanathan Colony 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Mixed Type - II.

How the guideline value of Kasiviswanathan Colony 2nd Street has changed

Over the years, the guideline value of Kasiviswanathan Colony 2nd Street has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 1,460 per sq.ft, which then increased by 379% to Rs 7,000 per sq.ft in 2012. The latest revision in 2024 reflects a further increase of 10%, bringing the value to Rs 7,700 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 427%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the 2024 guideline value of Kasiviswanathan Colony 2nd Street above the median.

• Kasiviswanathan Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 5th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kasiviswanathan Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Kasiviswanathan Colony 2nd Street?

The Sub Registrar Office that covers Kasiviswanathan Colony 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kasiviswanathan Colony 2nd Street?

The current guideline value of Kasiviswanathan Colony 2nd Street is Rs 7,700 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 1,460 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 427% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Kasiviswanathan Colony 2nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Kasiviswanathan Colony 2nd Street?

The land classification for Kasiviswanathan Colony 2nd Street is Mixed Type - II.