Guideline Value for Kasturi Nagar

Kasturi Nagar guideline value

The current guideline value of Kasturi Nagar, located in Acharapakkam village, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Acchirapakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Kasturi Nagar has changed

The guideline value of Kasturi Nagar has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, between 2012 and 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 400 per sq.ft in 2023, reflecting a 99% increase. The current value remains at Rs 400 per sq.ft from the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for Kasturi Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current value of Kasturi Nagar.

• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)
• Karimedu: Rs 400 per sq.ft (2024)
• Koil Santhu Street Ward 11: Rs 400 per sq.ft (2024)
• Kollaimedu Colony: Rs 250 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)
• Kannai Koil Madha Street Ward 2: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kasturi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. 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 Kasturi Nagar?

The Sub Registrar Office that covers Kasturi Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Acharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the higher of the sale price and the guideline value is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kasturi Nagar?

The current guideline value of Kasturi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, increasing from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, which is a 300% increase overall.

What is the land classification for Kasturi Nagar?

Kasturi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Acchirapakkam Sub Registrar Office located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kasturi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft has a total guideline value of Rs 4,00,000, leading to a stamp duty of Rs 28,000.