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 2 village, under the Chennai Central Joint I SRO, and falls under the land classification of Residential Special Type - III.

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

The guideline value register has no figures for Kasthuri Estate 1st Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 16,000 per sq.ft, which was an increase from the previous figures. The most recent revision in 2024 raised the guideline value to Rs 17,500 per sq.ft, reflecting a change of +9% from the 2023 figure.

With the 2024 revision, Kasthuri Estate 1st Street's guideline value is now above the median of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO. This indicates a significant position within the local real estate landscape.

Guideline values in Mylapore Part 2

The village of Mylapore Part 2 includes a range of guideline values, from Rs 4,400 to Rs 25,300 per sq.ft in the 2024 revision. Kasthuri Estate 1st Street's guideline value of Rs 17,500 per sq.ft is notably above the median for the area.

• 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, making the total charges Rs 15,75,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property 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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both parties are aware of the financial obligations involved in the sale or purchase of real estate in the area.

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 much has the guideline value changed recently?

From the 2023 revision of Rs 16,000 per sq.ft to the 2024 revision, the guideline value has increased by 9% to Rs 17,500 per sq.ft.

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

Kasthuri Estate 1st Street falls under the land classification of Residential Special Type - III.

Where can I find the Sub Registrar Office for Kasthuri Estate 1st Street?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions and is essential for calculating stamp duty and registration fees. It ensures that the transaction is recorded accurately in official records and that all parties are aware of their financial obligations.