Guideline Value for Kasthuri Bai Street

Kasthuri Bai Street guideline value

The current guideline value of Kasthuri Bai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Kasthuri Bai Street has changed

Over the years, the guideline value of Kasthuri Bai Street has seen several revisions. The earliest recorded figure was Rs 600 per sq.ft in 2007, which was followed by an increase to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017, before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

From 2007 to 2024, the overall change in guideline value is an increase of 175%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current figure for Kasthuri Bai Street.

• KasthuriBai Nagar Nethaji Street: Rs 1,650 per sq.ft (2024)
• Kannan Street: Rs 2,750 per sq.ft (2024)
• Kannadapalayam Road: Rs 1,650 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,750 per sq.ft (2024)
• Kamarajar Nagar (North)Amarar Jeeva Street: Rs 1,650 per sq.ft (2024)
• Kamachi Nagar 3rd Cross St: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Bai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kasthuri Bai Street?

The Sub Registrar Office that covers Kasthuri Bai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. To find more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kadaperi, as it determines the minimum value at which a property can be registered. Buyers should be aware that the guideline value is often used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the government receives the appropriate taxes from property sales.

Frequently asked questions

What is the current guideline value of Kasthuri Bai Street?

The current guideline value of Kasthuri Bai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 175% over the years.

What are the stamp duty and registration fees for property in Kasthuri Bai Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Kasthuri Bai Street?

The registration for Kasthuri Bai Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification of Kasthuri Bai Street?

Kasthuri Bai Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.