Guideline Value for New Sasthri Nagar

New Sasthri Nagar guideline value

The current guideline value of New Sasthri Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of New Sasthri Nagar has changed

The guideline value for New Sasthri Nagar has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing New Sasthri Nagar's 2024 figure below that median.

• New Sasthri Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• New Telephone Colony: Rs 1,600 per sq.ft (2024)
• Nithya Garden Extension: Rs 2,200 per sq.ft (2024)
• Nethaji st (Ward No.25): Rs 1,300 per sq.ft (2024)
• Nethaji st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Sasthri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers New Sasthri Nagar?

The Sub Registrar Office that covers New Sasthri Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps establish a fair price for registration purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of New Sasthri Nagar?

The current guideline value of New Sasthri Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62% over this period.

What is the stamp duty for property in New Sasthri Nagar?

The stamp duty for property in New Sasthri Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for New Sasthri Nagar located?

The Sub Registrar Office for New Sasthri Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current guideline value for New Sasthri Nagar.