Guideline Value for Kasthuri Street (Tharachand Nagar)

Kasthuri Street (Tharachand Nagar) guideline value

The current guideline value of Kasthuri Street (Tharachand Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kasthuri Street (Tharachand Nagar) has changed

The guideline value for Kasthuri Street (Tharachand Nagar) has seen several revisions over the years. In 2002, the value was Rs 584 per sq.ft, which increased to Rs 647 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 750 per sq.ft in 2007, a significant jump of 16%. Following this, there was a substantial increase to Rs 3,000 per sq.ft in 2012, reflecting a 300% rise. However, the value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 465%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Kasthuri Street (Tharachand Nagar) is below this median.

• Karumari Street: Rs 2,750 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 3,300 per sq.ft (2024)
• K.K.Nagar 10th Sector 54th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 10th Sector 55th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 10th Sector 56th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 10th Sector 57th Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Street (Tharachand Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasthuri Street (Tharachand Nagar)?

The Sub Registrar Office that covers Kasthuri Street (Tharachand Nagar) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Virugambakkam

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is accurately recorded and taxed according to the established rates.

Frequently asked questions

What is the current guideline value of Kasthuri Street (Tharachand Nagar)?

The current guideline value of Kasthuri Street (Tharachand Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 584 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 465% over this period.

What is the land classification for Kasthuri Street (Tharachand Nagar)?

Kasthuri Street (Tharachand Nagar) is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Kasthuri Street (Tharachand Nagar)?

The Sub Registrar Office for Kasthuri Street (Tharachand Nagar) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties in Virugambakkam?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.