Guideline Value for Kasthuri Estate 3rd Lane

Kasthuri Estate 3rd Lane guideline value

The current guideline value of Kasthuri Estate 3rd Lane 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 it falls under the Residential Special Type - III land classification.

How the guideline value of Kasthuri Estate 3rd Lane has changed

According to the revisions in the guideline value register, there are no figures available for Kasthuri Estate 3rd Lane for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 16,000 per sq.ft, which increased by 9% to Rs 17,500 per sq.ft in the 2024 revision.

This significant change from the 2023 to the 2024 revision reflects an increase in the guideline value. The current figure of Rs 17,500 per sq.ft is the latest and effective from 1 July 2024.

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 of Rs 8,800 per sq.ft. The guideline value for Kasthuri Estate 3rd Lane is above this median.

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

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, resulting in a total of 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 information.

Which Sub Registrar Office covers Kasthuri Estate 3rd Lane?

The Sub Registrar Office that covers Kasthuri Estate 3rd Lane 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 additional details.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore Part 2. It serves as the benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, it is essential to consider the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure they are aware of the current guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

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

The current guideline value of Kasthuri Estate 3rd Lane 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 3rd Lane was Rs 16,000 per sq.ft in 2023 and increased to Rs 17,500 per sq.ft in 2024, marking a 9% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 2?

In Mylapore Part 2, the guideline values for other streets range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Kasthuri Estate 3rd Lane's value is above this median.

What fees are involved when registering property in Kasthuri Estate 3rd Lane?

When registering property in Kasthuri Estate 3rd Lane, the stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees could amount to Rs 15,75,000.

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

The Sub Registrar Office for Kasthuri Estate 3rd Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.