Guideline Value for SASTHA NAGAR 2nd STREET

SASTHA NAGAR 2nd STREET guideline value

The current guideline value of SASTHA NAGAR 2nd STREET is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of SASTHA NAGAR 2nd STREET has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 2,500 per sq.ft, marking a change of +317%. The guideline value remained steady at Rs 2,500 per sq.ft in the 2023 revision, but in the 2024 revision, it increased to Rs 2,700 per sq.ft, reflecting an 8% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +350%. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. SASTHA NAGAR 2nd STREET's 2024 guideline value is above this median.

• SASTHA NAGAR 3rd STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 4th STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 1st STREET: Rs 2,700 per sq.ft (2024)
• Sastha Nagar Annex: Rs 2,700 per sq.ft (2024)
• Sastha Nagar: Rs 2,700 per sq.ft (2024)
• Sasthiri Square: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in SASTHA NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 SASTHA NAGAR 2nd STREET?

The Sub Registrar Office that covers SASTHA NAGAR 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When you buy or sell property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that all transactions are taxed fairly based on current market conditions.

Frequently asked questions

What is the current guideline value of SASTHA NAGAR 2nd STREET?

The current guideline value of SASTHA NAGAR 2nd STREET is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 600 per sq.ft in 2007, increased to Rs 2,500 per sq.ft in 2012, remained the same in 2023, and rose to Rs 2,700 per sq.ft in 2024.

What is the land classification for SASTHA NAGAR 2nd STREET?

The land classification for SASTHA NAGAR 2nd STREET is Residential Class I Type - III.

Where can I find the Sub Registrar Office for SASTHA NAGAR 2nd STREET?

The Sub Registrar Office for SASTHA NAGAR 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SASTHA NAGAR 2nd STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.