Guideline Value for Sashthri Nagar 2nd Avenue (Main Road) M.G.Road

Sashthri Nagar 2nd Avenue (Main Road) M.G.Road guideline value

The current guideline value for Sashthri Nagar 2nd Avenue (Main Road) M.G.Road is Rs 12,700 per sq.ft, effective from 1 July 2024. This property is located in Urur village, under the Adayar SRO, and is classified as Residential Special Type - I.

How the guideline value of Sashthri Nagar 2nd Avenue (Main Road) M.G.Road has changed

The guideline value for Sashthri Nagar 2nd Avenue (Main Road) has seen several revisions over the years. The earliest recorded figure is from 2002, at Rs 1,963 per sq.ft. This increased to Rs 2,321 per sq.ft in 2003, marking an 18% rise. By 2007, the value jumped significantly to Rs 6,000 per sq.ft, reflecting a 159% increase. The 2012 revision saw the value at Rs 11,500 per sq.ft, which was a 92% increase from the previous revision. However, in 2017, it dropped to Rs 7,705 per sq.ft, representing a decrease of 33%. The guideline value then rose to Rs 11,500 per sq.ft in 2023, and as of 2024, it stands at Rs 12,700 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 547%. Notably, there are no figures available for the revisions of years not mentioned in the register for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO, with guideline values ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Sashthri Nagar 2nd Avenue (Main Road) above this median.

• Sashthri Nagar 1st Main Road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 2nd Lane: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 1st Avenue main road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 3rd Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 2nd Avenue (Main Road) M.G.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,700 per sq.ft, the total guideline value amounts to Rs 1,27,00,000. The stamp duty at 7% would be Rs 8,89,000, while the registration fee at 2% would be Rs 2,54,000, bringing the total to Rs 11,43,000. 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 Sashthri Nagar 2nd Avenue (Main Road) M.G.Road?

The Sashthri Nagar 2nd Avenue (Main Road) M.G.Road falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property in Urur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sashthri Nagar 2nd Avenue (Main Road)?

The current guideline value for Sashthri Nagar 2nd Avenue (Main Road) is Rs 12,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,963 per sq.ft in 2002 to Rs 12,700 per sq.ft in 2024, reflecting an overall increase of 547% over the years.

What is the stamp duty for property in Sashthri Nagar 2nd Avenue (Main Road)?

The stamp duty for property in Sashthri Nagar 2nd Avenue (Main Road) is calculated at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Adayar Sub Registrar Office covers Sashthri Nagar 2nd Avenue (Main Road), located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

Where can I find more information about stamp duty and registration fees?

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