Guideline Value for Kasthuri Bai Nagar - II

Kasthuri Bai Nagar - II guideline value

The current guideline value of Kasthuri Bai Nagar - II is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sundaracholavaram village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kasthuri Bai Nagar - II has changed

The guideline value for Kasthuri Bai Nagar - II has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 220% rise. However, in 2017, the value decreased to Rs 536 per sq.ft, a reduction of 33%. The value then rose to Rs 800 per sq.ft in 2023, followed by a final increase to Rs 880 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Kasthuri Bai Nagar - II is above this median.

• Kasthuri Bai Nagar - I: Rs 880 per sq.ft (2024)
• Kasthuri Bai Nagar, Avenue & Extension: Rs 880 per sq.ft (2024)
• kiramani Main&cross Street: Rs 660 per sq.ft (2024)
• Jagathambal Avenue: Rs 880 per sq.ft (2024)
• Mariyamman Koil Street: Rs 660 per sq.ft (2024)
• Gramani Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Bai Nagar - II

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasthuri Bai Nagar - II?

The Sub Registrar Office that covers Kasthuri Bai Nagar - II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations based on the current rates.

Frequently asked questions

What is the current guideline value of Kasthuri Bai Nagar - II?

The current guideline value of Kasthuri Bai Nagar - II is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

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

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Kasthuri Bai Nagar - II, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Kasthuri Bai Nagar - II?

Kasthuri Bai Nagar - II is classified as Residential Class I Type - I, indicating its suitability for residential purposes.