Guideline Value for SASTHA NAGAR

Sastha Nagar guideline value

The current guideline value of Sastha Nagar in Zaminpallavaram village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sastha Nagar has changed

The guideline value for Sastha Nagar has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which changed to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Sastha Nagar's 2024 figure of Rs 2,750 per sq.ft is below this median.

• Sasthiri Colony: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 1st Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 2nd Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sarojini Street: Rs 3,300 per sq.ft (2024)
• Sarojini St Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Sastha Nagar?

The Sastha Nagar area falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Zaminpallavaram, the guideline value is a crucial factor as it determines the amount of stamp duty and registration fees payable. The guideline value is set by the Registration Department and reflects the value of land in the area.

It is important to note that the guideline value is used during the registration process, and the fees are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Sastha Nagar?

Sastha Nagar is classified as Residential Class II Type - I, indicating its residential use and zoning regulations.

Where can I find the Sub Registrar Office for Sastha Nagar?

The Pallavaram Sub Registrar Office covers Sastha Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property in Sastha Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.