Guideline Value for Kasthuribai Street

Kasthuribai Street guideline value

The current guideline value of Kasthuribai Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Kasthuribai Street has changed

The guideline value for Kasthuribai Street has seen several revisions over the years. In 2002, the value was Rs 71 per sq.ft, which increased to Rs 110 per sq.ft in 2003, marking a 55% rise. Following this, the value surged to Rs 500 per sq.ft in 2007, reflecting a significant increase of 355%. The value then rose to Rs 1,500 per sq.ft in 2012, a 200% increase from the previous revision. However, there was a decrease to Rs 1,005 per sq.ft in 2017, which was a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft in 2024, showing a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,154%. The register has no figure for this street in the years not mentioned above.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kasthuribai Street's 2024 figure below this median.

• Kattabomman Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Kaveri Street: Rs 2,400 per sq.ft (2024)
• Kennady Street: Rs 2,400 per sq.ft (2024)
• Kesavapillai Koil Street: Rs 1,800 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Kannathasan Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuribai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuribai Street?

The Sub Registrar Office that covers Kasthuribai Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government standards.

When buying or selling property, it is essential to consider the guideline value since stamp duty and registration fees are calculated based on this value. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kasthuribai Street?

The current guideline value of Kasthuribai Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 71 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 2,154% over this period.

What are the stamp duty and registration fees for properties on Kasthuribai Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office is responsible for Kasthuribai Street?

The Ambattur Sub Registrar Office is responsible for Kasthuribai Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Kasthuribai Street?

The land classification for Kasthuribai Street is Residential Class II Type - I.