Guideline Value for Kasthuri Ranga Road

Kasthuri Ranga Road guideline value

The current guideline value of Kasthuri Ranga Road is Rs 17,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 1 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 Ranga Road has changed

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

Thus, the only revisions available are from 2023 and 2024, showing a clear increase in the guideline value. The absence of figures from earlier years indicates that there was no recorded guideline value for this street during those periods.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 333 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 in this area is Rs 8,800 per sq.ft, placing the guideline value of Kasthuri Ranga Road above this median.

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

Stamp duty and registration fee for property in Kasthuri Ranga Road

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, totaling Rs 15,75,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Kasthuri Ranga Road?

The Sub Registrar Office that covers Kasthuri Ranga Road 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Kasthuri Ranga Road?

The current guideline value of Kasthuri Ranga Road 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. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Kasthuri Ranga Road?

Kasthuri Ranga Road is classified as Residential Special Type - III. This classification affects the guideline value and the types of properties that can be developed in the area.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. The guideline value of Kasthuri Ranga Road is above this median, indicating a higher valuation compared to many other streets in the area.

Where can I find the Sub Registrar Office for Kasthuri Ranga Road?

The Sub Registrar Office for Kasthuri Ranga Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.