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. This road is located in Mylapore Part 2 village, 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

The guideline value for Kasthuri Ranga Road has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 16,000 per sq.ft, which increased by 9% to Rs 17,500 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the guideline value, moving from Rs 16,000 in 2023 to Rs 17,500 in 2024. The increase indicates a shift in the valuation of properties in this area as per the latest revision.

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. The median guideline value for these streets is Rs 8,800 per sq.ft, making the 2024 value for 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, 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 detailed 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the state receives the appropriate revenue from property transactions in the area.

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 as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Kasthuri Ranga Road 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 does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for properties on this road?

For a property measuring 1,000 sq.ft at Rs 17,500 per sq.ft, the total guideline value is 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.

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

The Sub Registrar Office for Kasthuri Ranga Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the guideline value determined for properties in Mylapore Part 2?

The guideline value is determined based on various factors, including land classification and recent revisions by the Registration Department. It serves as a basis for calculating stamp duty and registration fees during property transactions.