Guideline Value for Sashthri Nagar 3rd Cross Street

Sashthri Nagar 3rd Cross Street guideline value

The current guideline value of Sashthri Nagar 3rd 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Sashthri Nagar 3rd Cross Street has changed

The guideline value for Sashthri Nagar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 1,110 per sq.ft. This increased to Rs 1,313 per sq.ft in 2003, marking an 18% rise. Following that, the value saw a significant increase of 90% to reach Rs 2,500 per sq.ft in 2007. The 2012 revision recorded a decrease of 33%, bringing the value down to Rs 7,000 per sq.ft. In 2017, the value rebounded to Rs 4,690 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 7,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 7,700 per sq.ft, which is a 10% increase.

There are no figures available for the revisions prior to 2002 or after 2024 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 guideline value for these streets is Rs 6,600 per sq.ft, placing Sashthri Nagar 3rd Cross Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Sashthri Nagar 3rd 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 be Rs 5,39,000, and the registration fee at 2% would amount to Rs 1,54,000, bringing the total fees together 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sashthri Nagar 3rd Cross Street?

The Sashthri Nagar 3rd Cross Street falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Urur. It serves as a benchmark for determining the minimum value of the property for the purpose of stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transfer of property ownership.

When a property is sold, the guideline value is referenced to calculate the applicable stamp duty and registration fees. The fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 3rd Cross Street?

The current guideline value of Sashthri Nagar 3rd 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 significantly from Rs 1,110 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 594% over the years.

What is the median guideline value in Urur village?

The median guideline value for streets in Urur village is Rs 6,600 per sq.ft, which is lower than the current value of Sashthri Nagar 3rd Cross Street.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 6,93,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles registrations for properties in the Sashthri Nagar area.