Guideline Value for SASTHA NAGAR ANNEX

Sastha Nagar Annex guideline value

The current guideline value of Sastha Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Sastha Nagar Annex has changed

Looking at the revisions, the guideline value for Sastha Nagar Annex was Rs 2,500 per sq.ft in the 2023 revision and has increased to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% rise. The previous revision in 2012 also had a guideline value of Rs 2,500 per sq.ft, indicating no change from 2012 to 2023. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 8%. This reflects the changes in the real estate landscape in the area over the years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, and Sastha Nagar Annex's 2024 figure of Rs 2,700 per sq.ft is above this median.

• SASTHA NAGAR 4th STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 3rd STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 2nd STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 1st STREET: 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 Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sastha Nagar Annex?

The Sastha Nagar Annex falls under 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 information.

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

The guideline value plays a crucial role during property registration in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is documented accurately and adheres to the legal requirements set by the state.

When you are buying or selling property in Sastha Nagar Annex, the guideline value will be assessed to calculate the applicable fees. This value must be considered as it reflects the official rate set by the Registration Department, which is important for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sastha Nagar Annex?

The current guideline value of Sastha Nagar Annex 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. There was no change in the value from 2012 to 2023.

What is the land classification for Sastha Nagar Annex?

Sastha Nagar Annex is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Sastha Nagar Annex located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.