Guideline Value for New Sastri Nagar

New Sastri Nagar guideline value

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

How the guideline value of New Sastri Nagar has changed

The guideline value for New Sastri Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. This figure remained unchanged until the 2023 revision, which set it at Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 117%. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with 2024 guideline values 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, indicating that New Sastri Nagar's 2024 figure is below this median.

• New Soliappan Street: Rs 2,200 per sq.ft (2024)
• New Pensioners Lane: Rs 2,200 per sq.ft (2024)
• New Labour Lane: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Cross Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Sastri Nagar

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, while 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 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 New Sastri Nagar?

The Sub Registrar Office that covers New Sastri Nagar is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of New Sastri Nagar?

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

What is the median guideline value in Tondaiarpet?

The median guideline value for the 1,384 streets in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value of New Sastri Nagar.

What are the stamp duty and registration fees for properties in New Sastri Nagar?

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.

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

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.