Guideline Value for Kasthuri Estate

Kasthuri Estate guideline value

The current guideline value of Kasthuri Estate, located in Mylapore Part 2 village, is Rs 17,500 per sq.ft, effective from 1 July 2024. This property falls under the Chennai Central Joint I SRO and is classified as Residential Special Type - III.

How the guideline value of Kasthuri Estate has changed

In the 2023 revision, the guideline value was set at Rs 16,000 per sq.ft. The recent 2024 revision has increased this value to Rs 17,500 per sq.ft, marking a change of +9%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there are no recorded figures for the guideline value of Kasthuri Estate for the years mentioned. The 2024 figure represents a significant increase compared to the previous year's value.

Guideline values in Mylapore Part 2

Mylapore Part 2 comprises 332 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, placing 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 at 7% would be 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?

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 2

The guideline value is a crucial factor in the registration process for property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is critical for both buyers and sellers to understand their financial obligations during the registration process.

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 much has the guideline value changed recently?

The guideline value increased from Rs 16,000 per sq.ft in 2023 to Rs 17,500 per sq.ft in 2024, reflecting a change of +9%.

What is the land classification for Kasthuri Estate?

Kasthuri Estate is classified as Residential Special Type - III under the Chennai Central Joint I SRO.

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.

How is the stamp duty calculated for properties in Kasthuri Estate?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,75,00,000, the stamp duty would be Rs 12,25,000 at a rate of 7%.