Guideline Value for SASTRI MAIN ROAD

Sastri Main Road guideline value

The current guideline value of Sastri Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sastri Main Road has changed

The guideline value for Sastri Main Road has seen significant changes over the years. In 2003, the value was Rs 545 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a substantial rise of 83%. The value then surged to Rs 6,000 per sq.ft in 2012, a remarkable increase of 500%. However, it saw a decline to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1111%. The register has no figure for the street in 2002.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the guideline value of Sastri Main Road.

• Sastri 3 Rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)
• Sathyanarayana Road: Rs 6,600 per sq.ft (2024)
• School Road: Rs 7,700 per sq.ft (2024)
• Saradambal Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sastri Main Road

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastri Main Road?

The Sub Registrar Office that covers Sastri Main Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mambalam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that the fees are calculated based on a standardized valuation.

This value is essential for both buyers and sellers, as it reflects the government’s assessment of property values in the area. It helps maintain transparency in property transactions and ensures compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Sastri Main Road?

The current guideline value of Sastri Main Road is Rs 6,600 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 545 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1111% over this period.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, which is the same as the guideline value for Sastri Main Road.

What are the stamp duty and registration fees for properties on Sastri Main Road?

For a property valued at Rs 66,00,000 on Sastri Main Road, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Sastri Main Road?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Sastri Main Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.