Guideline Value for Sashthri Nagar 3rd Lane

Sashthri Nagar 3rd Lane guideline value

The current guideline value of Sashthri Nagar 3rd 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 3rd Lane has changed

The guideline value for Sashthri Nagar 3rd Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 837 per sq.ft. This increased to Rs 990 per sq.ft in 2003, marking an increase of 18%. In 2007, the value saw a significant jump to Rs 2,500 per sq.ft, which is an increase of 153%. The 2012 revision held the value at Rs 7,000 per sq.ft, reflecting a decrease of 33% from the previous figure.

From 2012 to 2017, the guideline value rose to Rs 4,690 per sq.ft, which is an increase of 180%. The value further increased to Rs 7,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, a 10% increase from the previous year. The register has no figure for the years not listed above.

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. The median value for these streets is Rs 6,600 per sq.ft, placing Sashthri Nagar 3rd Lane above this median.

• Sashthri Nagar 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 4th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 2nd Lane: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 4th Lane street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 5th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 3rd Lane

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. The total cost for these fees together would be Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sashthri Nagar 3rd Lane?

The Sub Registrar Office that covers Sashthri Nagar 3rd Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Urur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Sashthri Nagar 3rd 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 seen various revisions, starting from Rs 837 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, representing an overall increase of 820% over the years.

What is the median guideline value in Urur?

The median guideline value for the 176 streets in Urur under the Adayar SRO is Rs 6,600 per sq.ft, with Sashthri Nagar 3rd Lane being above this median.

What are the stamp duty and registration fees for properties in Sashthri Nagar 3rd Lane?

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 office handles registrations for Sashthri Nagar 3rd Lane?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Sashthri Nagar 3rd Lane.