Guideline Value for Kasthuri Estate 3rd Street

Kasthuri Estate 3rd Street guideline value

The current guideline value of Kasthuri Estate 3rd Street is Rs 17,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 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 3rd Street has changed

The guideline value for Kasthuri Estate 3rd Street has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 16,000 per sq.ft. With the latest revision in 2024, the value increased to Rs 17,500 per sq.ft, marking a change of +9% from the previous year.

Prior to the 2023 revision, there were no recorded figures for this street in the register for the years mentioned. The significant increase from Rs 16,000 in 2023 to Rs 17,500 in 2024 indicates a notable adjustment in the guideline value.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Kasthuri Estate 3rd Street is above this median.

• Kasthuri Estate 3rd Lane: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate MainRoad: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 2nd Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 1st Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate: 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 3rd 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. It is important to note that the 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 Estate 3rd Street?

The Sub Registrar Office that covers Kasthuri Estate 3rd 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 stamp duty and registration fees that need to be paid when buying or selling property in this area.

Frequently asked questions

What is the current guideline value of Kasthuri Estate 3rd Street?

The current guideline value of Kasthuri Estate 3rd 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 has changed from Rs 16,000 per sq.ft in 2023 to Rs 17,500 per sq.ft in 2024, reflecting a +9% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kasthuri Estate 3rd Street?

The land classification for Kasthuri Estate 3rd Street is Residential Special Type - III. This classification is important for understanding the zoning regulations applicable to the area.

Where can I find the Sub Registrar Office for Kasthuri Estate 3rd Street?

The Sub Registrar Office for Kasthuri Estate 3rd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles all registration activities for the area.

How is stamp duty calculated for properties in Kasthuri Estate 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 12,25,000.