Guideline Value for Sashthri Nagar 7th Lane Street

Sashthri Nagar 7th Lane Street guideline value

The current guideline value of Sashthri Nagar 7th Lane Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village and falls under the Adayar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sashthri Nagar 7th Lane Street has changed

The guideline value for Sashthri Nagar 7th Lane Street has seen significant changes over the years. In 2002, the value was Rs 837 per sq.ft, which increased to Rs 990 per sq.ft in 2003. Following this, the value surged to Rs 3,300 per sq.ft in 2007, marking a substantial increase of 233%. The value then rose to Rs 7,000 per sq.ft in 2012, but saw a decrease of 33% to Rs 4,690 per sq.ft in 2017. The guideline value then increased to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 820%. There are no figures available for the revisions in the years not mentioned in the register for this street.

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 for these streets is Rs 6,600 per sq.ft, which means that Sashthri Nagar 7th Lane Street's 2024 figure is above that median.

• Sashthri Nagar 7th Cross Street: Rs 9,900 per sq.ft (2024)
• Sashthri Nagar 8th Cross Street: Rs 9,900 per sq.ft (2024)
• Sashthri Nagar 6th Lane street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 8th Lane street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 6th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 9th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sashthri Nagar 7th 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 amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sashthri Nagar 7th Lane Street?

The Sub Registrar Office that covers Sashthri Nagar 7th Lane Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Urur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with the legal requirements during the registration process. This value helps in establishing a baseline for property transactions in the area.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 7th Lane Street?

The current guideline value of Sashthri Nagar 7th 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 increased 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 7th Lane Street?

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

Which Sub Registrar Office covers Sashthri Nagar 7th Lane Street?

The Adayar Sub Registrar Office covers Sashthri Nagar 7th Lane Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures compliance with legal requirements during property transactions.