Guideline Value for Sashthri Nagar 1st Cross Street

Sashthri Nagar 1st Cross Street guideline value

The current guideline value of Sashthri Nagar 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sashthri Nagar 1st Cross Street has changed

The guideline value for Sashthri Nagar 1st Cross Street has undergone several revisions over the years. In 2002, the value was Rs 1,512 per sq.ft, which increased to Rs 1,788 per sq.ft in 2003, marking an 18% rise. By 2007, the value jumped significantly to Rs 2,500 per sq.ft, reflecting a 40% increase. The value then saw a remarkable rise to Rs 7,000 per sq.ft in 2012, which was a 180% increase from the previous revision. However, this was followed by a decrease to Rs 4,690 per sq.ft in 2017, representing a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 7,000 per sq.ft, showing a substantial rise of 49%. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for any other years for this street in the register.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Sashthri Nagar 1st Cross Street above this median.

• Sashthri Nagar 1st Avenue main road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 1st Main Road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 15th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 2nd Avenue (Main Road) M.G.Road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 14th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sashthri Nagar 1st Cross Street?

The Sub Registrar Office that covers Sashthri Nagar 1st Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 1st Cross Street?

The current guideline value of Sashthri Nagar 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,512 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 409% over the years.

What is the median guideline value for streets in Urur?

The median guideline value for streets in Urur is Rs 6,600 per sq.ft, with Sashthri Nagar 1st Cross Street's value being above this median.

What are the stamp duty and registration fees for properties in Sashthri Nagar 1st Cross Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where can I find the Sub Registrar Office for Sashthri Nagar 1st Cross Street?

The Sub Registrar Office for Sashthri Nagar 1st Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.