Guideline Value for SASTHIRI COLONY 2ND STREET 1 TO 4 LANES

Sasthiri Colony 2nd Street 1 To 4 Lanes guideline value

The current guideline value of Sasthiri Colony 2nd Street 1 To 4 Lanes is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sasthiri Colony 2nd Street 1 To 4 Lanes has changed

The guideline value of Sasthiri Colony 2nd Street 1 To 4 Lanes has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. In 2023, the value was revised to Rs 2,500 per sq.ft, and the most recent 2024 revision increased it to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

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 guideline value in this area is Rs 3,300 per sq.ft, which means that the 2024 figure for Sasthiri Colony 2nd Street is below this median.

• Sasthiri Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 1st Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony: Rs 2,750 per sq.ft (2024)
• Sastha Nagar: 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 Sasthiri Colony 2nd Street 1 To 4 Lanes

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations based on your property details.

Which Sub Registrar Office covers Sasthiri Colony 2nd Street 1 To 4 Lanes?

The Sub Registrar Office that covers Sasthiri Colony 2nd Street 1 To 4 Lanes is 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

The guideline value is a critical factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. The registration office uses this value to ensure that the fees collected are in line with the property’s assessed worth.

When a buyer or seller approaches the registration office, the guideline value will be referenced to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Sasthiri Colony 2nd Street 1 To 4 Lanes?

The current guideline value of Sasthiri Colony 2nd Street 1 To 4 Lanes 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 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for this area?

The land classification for Sasthiri Colony 2nd Street 1 To 4 Lanes is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office covering Sasthiri Colony 2nd Street 1 To 4 Lanes is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

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