Guideline Value for Kasthuribai Street

Kasthuribai Street guideline value

The current guideline value of Kasthuribai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kasthuribai Street has changed

Looking at the revisions over the years, the guideline value for Kasthuribai Street has seen several changes. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 1,500 per sq.ft in the 2023 revision, and further increased to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Kasthuribai Street.

• Karunanithi St: Rs 1,650 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Kaviarasu Kannadasan Street: Rs 1,650 per sq.ft (2024)
• Karthik Avenue Annex: Rs 1,650 per sq.ft (2024)
• Karthik Avenue: Rs 1,650 per sq.ft (2024)
• Kennedy St: Rs 1,650 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, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kasthuribai Street?

The Sub Registrar Office that covers Kasthuribai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is used as a benchmark for calculating the applicable fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Kasthuribai Street?

The current guideline value of Kasthuribai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kasthuribai Street?

Kasthuribai Street is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Kasthuribai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,15,500.