Guideline Value for Sapthar Hasmi Nagar

Sapthar Hasmi Nagar guideline value

The current guideline value of Sapthar Hasmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Atthivakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sapthar Hasmi Nagar has changed

The guideline value for Sapthar Hasmi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 16 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in 2007, marking a change of 1,150%. The value then rose to Rs 300 per sq.ft in 2012, reflecting a 50% increase. However, it decreased to Rs 201 per sq.ft in 2017, which was a decline of 33%. Following this, the value surged to Rs 300 per sq.ft in 2023, a rise of 49%, and finally reached Rs 330 per sq.ft in 2024, a 10% increase.

It is important to note that there are no figures available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,963%.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,400 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Sapthar Hasmi Nagar is below this median.

• Sapthar Hasmi Nagar 2 nd Part: Rs 330 per sq.ft (2024)
• Sri Bala Vinayaga Nagar: Rs 330 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)
• Sri Sathiya Narayana Garden: Rs 275 per sq.ft (2024)
• Sun City: Rs 1,045 per sq.ft (2024)
• Thirupathi Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthar Hasmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total cost for these fees Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthar Hasmi Nagar?

The Sub Registrar Office that covers Sapthar Hasmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more details, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Atthivakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the potential costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Sapthar Hasmi Nagar?

The current guideline value of Sapthar Hasmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1,963% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Sapthar Hasmi Nagar?

The Redhills Sub Registrar Office covers Sapthar Hasmi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sapthar Hasmi Nagar?

The land classification for Sapthar Hasmi Nagar is Residential Class II Type - I.