Guideline Value for Kasiviswanathan Colony 5th Street

Kasiviswanathan Colony 5th Street guideline value

The current guideline value of Kasiviswanathan Colony 5th Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Mixed Type - II land classification.

How the guideline value of Kasiviswanathan Colony 5th Street has changed

The guideline value for Kasiviswanathan Colony 5th Street has seen significant changes over the years. In 2007, the value was Rs 1,460 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 379%. The latest revision in 2024 has set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 427%, showcasing the substantial growth over this period.

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 guideline value in this area is Rs 4,900 per sq.ft, placing the 2024 figure for Kasiviswanathan Colony 5th Street above this median.

• Kasiviswanathan Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 1st Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kasiviswanathan Colony 5th 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 to Rs 6,93,000. 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 Kasiviswanathan Colony 5th Street?

The Sub Registrar Office covering Kasiviswanathan Colony 5th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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 stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a buyer or seller engages in a transaction, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kasiviswanathan Colony 5th Street?

The current guideline value of Kasiviswanathan Colony 5th 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 increased 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.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Kasiviswanathan Colony 5th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Kasiviswanathan Colony 5th Street's 2024 figure being above this median.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at 7%.