Guideline Value for Sashthri Nagar 2nd Lane

Sashthri Nagar 2nd Lane guideline value

The current guideline value of Sashthri Nagar 2nd Lane 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 2nd Lane has changed

Over the years, the guideline value of Sashthri Nagar 2nd Lane has seen several revisions. The 2012 revision set the value at Rs 7,000 per sq.ft, which then dropped to Rs 4,690 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value significantly increased to Rs 7,000 per sq.ft in the 2023 revision and further rose to Rs 7,700 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft, with a median value of Rs 6,600 per sq.ft. Sashthri Nagar 2nd Lane's 2024 guideline value is above this median.

• Sashthri Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 3rd 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 3rd Lane: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 1st Main Road: Rs 12,700 per sq.ft (2024)
• Sashthri Nagar 4th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, resulting in a total of 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sashthri Nagar 2nd Lane?

The Sashthri Nagar 2nd Lane falls under 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 crucial during the registration of property transactions in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both the buyer and seller are aware of the financial implications involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 2nd Lane?

The current guideline value of Sashthri Nagar 2nd Lane 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 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then increased to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What is the land classification of Sashthri Nagar 2nd Lane?

Sashthri Nagar 2nd Lane is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in this area?

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.

Which Sub Registrar Office is responsible for Sashthri Nagar 2nd Lane?

The Adayar Sub Registrar Office is responsible for Sashthri Nagar 2nd Lane, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.