Guideline Value for SAASTHA NAGAR

Saastha Nagar guideline value

The current guideline value of Saastha Nagar, located in Kumili village under the Thiruporur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Saastha Nagar has changed

The guideline value for Saastha Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft, and it has remained the same in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Thus, the guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, showing no overall change during this period.

Guideline values in Kumili

Kumili village has a total of 21 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. Saastha Nagar's current guideline value is below this median.

• Rithivik Township Phase I, II, III, IV: Rs 1,493 per sq.ft (2024)
• Sai Sarvesh Nagar: Rs 1,400 per sq.ft (2024)
• Shri Kantha Garden: Rs 300 per sq.ft (2024)
• Shri Mayura Avenue: Rs 800 per sq.ft (2024)
• Somas Garden Phase I, II & III: Rs 400 per sq.ft (2024)
• N.G.O. Colony Extension: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Saastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saastha Nagar?

The Sub Registrar Office that covers Saastha Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kumili. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you register a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saastha Nagar?

The current guideline value of Saastha Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a decrease to Rs 167 per sq.ft in 2017 and an increase back to Rs 250 per sq.ft in 2023.

What is the land classification of Saastha Nagar?

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

What are the stamp duty and registration fees for property in Saastha Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 2,50,000, the total fees would amount to Rs 22,500.

Which office handles property registrations for Saastha Nagar?

The Thiruporur Sub Registrar Office handles property registrations for Saastha Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.