Guideline Value for Kasthuri Ammal Nagar

Kasthuri Ammal Nagar guideline value

The current guideline value for Kasthuri Ammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Karanodai village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Kasthuri Ammal Nagar has changed

The guideline value for Kasthuri Ammal Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 482 per sq.ft, which changed to Rs 50 per sq.ft in 2003. This was a significant decrease of 90%. The value then increased dramatically to Rs 300 per sq.ft in 2007, marking a 500% rise. In 2012, the value was Rs 500 per sq.ft, which was an increase of 67% from the previous revision. However, in 2017, it dropped to Rs 335 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 500 per sq.ft in 2023, followed by the current value of Rs 550 per sq.ft in 2024, which is a 10% increase.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,000 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value for Kasthuri Ammal Nagar is below this median.

• Lakshmiamman Koil Street: Rs 1,210 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 440 per sq.ft (2024)
• J.P. Nagar: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Jai Nagar: Rs 440 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Ammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that 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 Kasthuri Ammal Nagar?

The Sub Registrar Office that covers Kasthuri Ammal Nagar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are applied, protecting both the buyer and seller in the transaction.

Frequently asked questions

What is the current guideline value of Kasthuri Ammal Nagar?

The current guideline value of Kasthuri Ammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 482 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, reflecting various increases and decreases through the years.

What is the registration fee for property in Kasthuri Ammal Nagar?

The registration fee is 2% of the guideline value. For a property valued at Rs 5,50,000, the registration fee would be Rs 11,000.

Where is the Redhills Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Karanodai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. This ensures that the correct amount is paid during the registration process.