Guideline Value for Sashthri Nagar 5th lane street

Sashthri Nagar 5th lane street guideline value

The current guideline value of Sashthri Nagar 5th lane 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 5th lane street has changed

The guideline value for Sashthri Nagar 5th lane street has seen several revisions over the years. In 2002, the guideline value was Rs 837 per sq.ft, which increased to Rs 990 per sq.ft in 2003. The value then surged to Rs 3,300 per sq.ft in 2007, followed by a significant jump to Rs 7,000 per sq.ft in 2012. However, it decreased to Rs 4,690 per sq.ft in 2017. The value rose again to Rs 7,000 per sq.ft in 2023, and finally reached Rs 7,700 per sq.ft in the 2024 revision.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +18%. The jump from 2003 to 2007 was +233%. The value then decreased by -33% from 2012 to 2017. The increase from 2017 to 2023 was +49%, and from 2023 to 2024, it rose by +10%. Overall, from 2002 to 2024, the guideline value has increased by +820%.

Guideline values in Urur

In Urur, 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 is Rs 6,600 per sq.ft, making Sashthri Nagar 5th lane street's 2024 figure above that median.

• Sashthri Nagar 5th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 6th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 4th Lane street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 6th Lane street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 4th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 7th Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 5th lane 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 be Rs 1,54,000, bringing the total fees to Rs 6,93,000. Duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sashthri Nagar 5th lane street?

The Sub Registrar Office that covers Sashthri Nagar 5th lane street is 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 a critical factor during property transactions in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on this figure.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, preventing undervaluation. This process helps maintain transparency and integrity in property dealings, ensuring that all parties adhere to the regulations set by the local authorities.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 5th lane street?

The current guideline value of Sashthri Nagar 5th lane 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 837 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of +820% over the years.

What are the stamp duty and registration fees for property in Sashthri Nagar 5th lane street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 6,93,000.

Which Sub Registrar Office covers Sashthri Nagar 5th lane street?

The Adayar Sub Registrar Office covers Sashthri Nagar 5th lane street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Sashthri Nagar 5th lane street?

Sashthri Nagar 5th lane street is classified as Residential Class I Type - I, indicating its suitability for residential development.