Guideline Value for Kasthuri Estate

Kasthuri Estate guideline value

The current guideline value of Kasthuri Estate is Rs 17,500 per sq.ft, effective from 1 July 2024. This property is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Special Type - III.

How the guideline value of Kasthuri Estate has changed

The guideline value for Kasthuri Estate has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 16,000 per sq.ft, which increased by 9% to Rs 17,500 per sq.ft in the 2024 revision.

This increase reflects a significant change in the valuation of properties in this area. The 2024 figure represents a notable rise from the previous year's guideline value.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values across its 333 streets, with values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing the Kasthuri Estate's 2024 figure above this median.

• Kasthuri Estate 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 17,500 per sq.ft, the total guideline value amounts to Rs 1,75,00,000. The stamp duty, calculated at 7%, would be Rs 12,25,000, while the registration fee at 2% would be Rs 3,50,000, bringing the total cost 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.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuri Estate?

The Sub Registrar Office that covers Kasthuri Estate 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 an essential factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value helps establish the minimum value for which the property can be registered. This ensures that the state receives the appropriate revenue from property transactions, reflecting the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Kasthuri Estate?

The current guideline value of Kasthuri Estate 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, marking a 9% increase. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Kasthuri Estate?

Kasthuri Estate is classified as Residential Special Type - III, indicating its designation for residential development.

What are the stamp duty and registration fees for properties in Kasthuri Estate?

For a property valued at Rs 1,75,00,000, the stamp duty would be Rs 12,25,000 and the registration fee would be Rs 3,50,000, totaling Rs 15,75,000. The duty is based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Kasthuri Estate is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information online.