Guideline Value for SASTHA NAGAR

Sastha Nagar guideline value

The current guideline value of Sastha Nagar, located in Vichoor village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sastha Nagar has changed

The guideline value for Sastha Nagar has seen significant changes over the years. In 2002, the value was Rs 14 per sq.ft, which increased to Rs 100 per sq.ft in 2007, marking a substantial rise of 614%. The 2012 revision saw the value at Rs 300 per sq.ft, which was a 200% increase from the previous figure. However, in 2017, the value dropped to Rs 201 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 300 per sq.ft in 2023, before reaching the current value of Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2257%. The register has no figure for Sastha Nagar in 2003.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Sastha Nagar's current guideline value is below this median.

• Selvam Avenu: Rs 330 per sq.ft (2024)
• R.M. Nagar: Rs 330 per sq.ft (2024)
• Sidco Nagar: Rs 550 per sq.ft (2024)
• Sivakumar Nagar: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total charges to Rs 29,700. 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 Sastha Nagar?

The Sastha Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are transparent and fair.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions while protecting the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 14 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 2257% over the years.

What are the other streets in Vichoor with their guideline values?

Other streets in Vichoor include Selvam Avenu and R.M. Nagar at Rs 330 per sq.ft, Sidco Nagar at Rs 550 per sq.ft, and Sivakumar Nagar, Sri Devi Nagar, and Sri Mahalashmi Nagar at Rs 485 per sq.ft.

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

For a property valued at Rs 3,30,000, the stamp duty is Rs 23,100, and the registration fee is Rs 6,600, totaling Rs 29,700.

Where is the Sub Registrar Office for Sastha Nagar located?

The Thiruvottiyur Sub Registrar Office, which covers Sastha Nagar, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.