Guideline Value for SASTHA NAGAR

Sastha Nagar guideline value

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

How the guideline value of Sastha Nagar has changed

The guideline value for Sastha Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 2,500 per sq.ft, which represents a remarkable increase of 1150%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2003, 2007, 2017, and 2023 for this street. Overall, the guideline value has increased by 1250% from the 2002 figure to the 2024 figure.

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's 2024 guideline value is above this median.

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

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 higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sastha Nagar?

The Sub Registrar Office that covers Sastha Nagar 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 information.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2002?

Since 2002, the guideline value has increased by 1250%, from Rs 200 per sq.ft to Rs 2,700 per sq.ft in 2024.

What was the guideline value in 2012?

In 2012, the guideline value for Sastha Nagar was Rs 2,500 per sq.ft.

Are there any years with no guideline value figures for Sastha Nagar?

Yes, the register has no figures for Sastha Nagar for the years 2003, 2007, 2017, and 2023.

Where can I find the registration office for Sastha Nagar?

The registration office covering Sastha Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.