Guideline Value for SASTHIRI SQUARE

Sasthiri Square guideline value

The current guideline value of Sasthiri Square is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Sasthiri Square has changed

Since the 2002 revision, the guideline value for Sasthiri Square has seen significant changes. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a 268% rise. The value remained at Rs 1,500 per sq.ft from 2012 until the 2023 revision. In 2024, the value was updated to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

The revisions for 2017 and 2003 do not have figures listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 882%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, positioning Sasthiri Square's 2024 figure below this median.

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

Stamp duty and registration fee for property in Sasthiri Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Sasthiri Square?

The Sub Registrar Office that covers Sasthiri Square is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is crucial during property registration as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements when executing property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sasthiri Square?

The current guideline value of Sasthiri Square is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 163 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 882%.

What is the registration office for Sasthiri Square?

The Villivakkam Sub Registrar Office covers Sasthiri Square, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sasthiri Square?

The stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,12,000 based on the current guideline value.

What are the other streets in Korattur with guideline values?

Other streets in Korattur under the Villivakkam SRO have guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft, with several streets listed at Rs 2,700 per sq.ft in 2024.