Guideline Value for Kasthuri Estate 1st Street

Kasthuri Estate 1st Street guideline value

The current guideline value of Kasthuri Estate 1st Street is Rs 17,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Kasthuri Estate 1st Street has changed

The guideline value for Kasthuri Estate 1st Street has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 16,000 per sq.ft in the 2023 revision, which increased to Rs 17,500 per sq.ft in the 2024 revision, representing a change of +9%.

Prior to the 2023 revision, there were no recorded figures for this street in the years mentioned. The 2024 guideline value of Rs 17,500 per sq.ft places it at a higher rate compared to the previous year.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that the guideline value of Kasthuri Estate 1st Street is above this median.

• Kasthuri Estate: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 2nd Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 3rd Lane: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 3rd Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate MainRoad: Rs 17,500 per sq.ft (2024)
• Kasthuri Ranga 1st Lane: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Estate 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,500 per sq.ft, the total guideline value would be Rs 1,75,00,000. The stamp duty at 7% would amount to Rs 12,25,000, and the registration fee at 2% would be Rs 3,50,000, bringing the total to Rs 15,75,000. 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 Kasthuri Estate 1st Street?

The Sub Registrar Office that covers Kasthuri Estate 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when buying or selling property in Mylapore Part 1. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be based on the sale price instead.

Frequently asked questions

What is the current guideline value of Kasthuri Estate 1st Street?

The current guideline value of Kasthuri Estate 1st Street is Rs 17,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kasthuri Estate 1st Street has changed from Rs 16,000 per sq.ft in 2023 to Rs 17,500 per sq.ft in 2024, a change of +9%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kasthuri Estate 1st Street?

The land classification for Kasthuri Estate 1st Street is Residential Special Type - III, which indicates its intended use for residential purposes.

What is the stamp duty rate for properties in Kasthuri Estate 1st Street?

The stamp duty rate for properties in Kasthuri Estate 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kasthuri Estate 1st Street located?

The Sub Registrar Office for Kasthuri Estate 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.