Guideline Value for Kasthuribai Nagar

Kasthuribai Nagar guideline value

The current guideline value of Kasthuribai Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This locality is situated in Thirumazhisai village under the Poonamallee Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Kasthuribai Nagar has changed

Over the years, the guideline value of Kasthuribai Nagar has seen several revisions. The 2012 revision set the value at Rs 1,300 per sq.ft, which was then reduced to Rs 871 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,300 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Kasthuribai Nagar is above this median.

• Kasturibai street: Rs 1,100 per sq.ft (2024)
• Kslashtri Baby Nagar: Rs 1,320 per sq.ft (2024)
• Kslashtri Moorthy Avenue: Rs 1,320 per sq.ft (2024)
• Kslashtri Nagar: Rs 1,320 per sq.ft (2024)
• Kslashtri Nagar Extension: Rs 1,320 per sq.ft (2024)
• Kamarajar theruperumal koil pundthottam: Rs 1,100 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total costs together Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuribai Nagar?

The Poonamallee Sub Registrar Office covers Kasthuribai Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the established guideline rather than potentially inflated sale prices.

When a property transaction occurs, the guideline value helps in maintaining transparency and standardization in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kasthuribai Nagar?

The current guideline value of Kasthuribai Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,430 per sq.ft in 2024.

What is the land classification of Kasthuribai Nagar?

Kasthuribai Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Kasthuribai Nagar?

The Poonamallee Sub Registrar Office, which covers Kasthuribai Nagar, is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Kasthuribai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at 7%.