Guideline Value for Kasthuribai Street

Kasthuribai Street guideline value

The current guideline value of Kasthuribai Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Kasthuribai Street has changed

The guideline value for Kasthuribai Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, but then saw a significant drop to Rs 804 per sq.ft in 2017. The value then rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. However, from 2007 to 2012, the value doubled, increasing by 100%. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Kasthuribai Street's 2024 figure below that median.

• Kathivakkam High Road: Rs 2,200 per sq.ft (2024)
• Kavadi Thottam: Rs 1,300 per sq.ft (2024)
• Karumariamman Nagar: Rs 1,300 per sq.ft (2024)
• Karimedu Colony Street: Rs 1,300 per sq.ft (2024)
• Kesavan street: Rs 2,200 per sq.ft (2024)
• Kannu Thottam: Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuribai Street?

The Sub Registrar Office covering Kasthuribai Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer is required to pay these fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, with the appropriate government fees collected.

Frequently asked questions

What is the current guideline value of Kasthuribai Street?

The current guideline value of Kasthuribai Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 117% over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office handles registrations for Kasthuribai Street?

The Royapuram Sub Registrar Office handles registrations for Kasthuribai Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Kasthuribai Street?

Kasthuribai Street is classified as Residential Class II Type - I, which affects its guideline value and potential uses.