Guideline Value for Kasthuribai Nagar

Kasthuribai Nagar guideline value

The current guideline value for Kasthuribai Nagar, located in Kottivakkam village under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kasthuribai Nagar has changed

Over the years, the guideline value for Kasthuribai Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a drop of 33%. However, the value rose significantly to Rs 3,000 per sq.ft in the 2023 revision, and then again to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value has been an increase of 10%. The 2023 to 2024 revision saw a rise of 10%, while the 2017 to 2023 period experienced a substantial increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Kasthuribai Nagar's current value below this median.

• Karumari Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Karumari Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Kavery Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuribai 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, and the registration fee at 2% would be Rs 66,000, bringing the total 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. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuribai Nagar?

The Sub Registrar Office that covers Kasthuribai Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

When buying or selling property in Kottivakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value acts as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes based on the property's worth.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kasthuribai Nagar?

The current guideline value of Kasthuribai 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the guideline values for other streets in Kottivakkam?

Other streets in Kottivakkam have varying guideline values, with rates ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is higher than that of Kasthuribai Nagar.

What is the registration office for Kasthuribai Nagar?

The registration office for Kasthuribai Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.