Guideline Value for SRI SASTHA NAGAR

Sri Sastha Nagar guideline value

The current guideline value of Sri Sastha Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kinaar village and falls under the Madurandakam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Sastha Nagar has changed

The guideline value of Sri Sastha Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 100 per sq.ft. The 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same, with an overall change of +0% during this period.

Guideline values in Kinaar

In Kinaar, five streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value of Sri Sastha Nagar is below this median.

• Sri Sai Baba Nagar: Rs 100 per sq.ft (2024)
• Sri Eswaran Avenue: Rs 150 per sq.ft (2024)
• Sai Baba Nagar: Rs 200 per sq.ft (2024)
• Adhistam Nagar & Adhistam Nagar Extension: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total charges to Rs 9,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Sri Sastha Nagar?

The Sub Registrar Office that covers Sri Sastha Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kinaar. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Sri Sastha Nagar?

The current guideline value of Sri Sastha Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the guideline values of other streets in Kinaar?

Other streets in Kinaar have guideline values ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 150 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur a total of Rs 9,000 in fees.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.