Guideline Value for SASTHIRI COLONY

Sasthiri Colony guideline value

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

How the guideline value of Sasthiri Colony has changed

The guideline value for Sasthiri Colony has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased to Rs 1,675 per sq.ft, marking a drop of 33%. However, the value increased significantly in the following revisions, reaching Rs 2,500 per sq.ft in 2023 and then rising to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for Sasthiri Colony. The register has no figures for the years 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 for the area is Rs 3,300 per sq.ft, positioning Sasthiri Colony's 2024 figure below this median.

• 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)
• Sastha Nagar: 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 Sasthiri Colony

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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sasthiri Colony?

The Sub Registrar Office that covers Sasthiri Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 when registering property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When buyers and sellers engage in property transactions, the guideline value helps ensure transparency and fairness in the registration process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sasthiri Colony?

The current guideline value of Sasthiri Colony 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 back 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 Sasthiri Colony?

The land classification for Sasthiri Colony is Residential Class II Type - I.

Which office handles property registration for Sasthiri Colony?

The Pallavaram Sub Registrar Office handles property registration for Sasthiri Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. You can use our stamp duty and registration fee calculator for precise calculations.