Guideline Value for Sashthri Nagar 8th Lane street

Sashthri Nagar 8th Lane street guideline value

The current guideline value of Sashthri Nagar 8th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Sashthri Nagar 8th Lane street has changed

The guideline value for Sashthri Nagar 8th Lane street has undergone 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. Following this, there was a significant rise to Rs 3,300 per sq.ft in 2007, and it further increased to Rs 7,000 per sq.ft in 2012. The value then dropped to Rs 4,690 per sq.ft in 2017, before climbing back to Rs 7,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +18%. A substantial rise of +233% occurred from 2003 to 2007. The value then increased by +112% from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value saw a +49% increase from 2017 to 2023, and from 2023 to 2024, there was a +10% rise. Overall, from 2002 to 2024, the guideline value has increased by +820%.

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 8th Lane street above this median.

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

Stamp duty and registration fee for property in Sashthri Nagar 8th 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, making the total cost for these fees 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.

You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sashthri Nagar 8th Lane street?

The Sub Registrar Office that covers Sashthri Nagar 8th 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Urur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for legal property transfer.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 8th Lane street?

The current guideline value of Sashthri Nagar 8th 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 seen various changes, starting from Rs 837 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of +820% over this period.

What is the median guideline value for streets in Urur?

The median guideline value for streets in Urur is Rs 6,600 per sq.ft, with Sashthri Nagar 8th Lane street's value being above this median.

What are the stamp duty and registration fees for property in Sashthri Nagar 8th Lane street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 77,00,000, leading to a stamp duty of Rs 5,39,000 and a registration fee of Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registrations for Sashthri Nagar 8th Lane street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles property registrations for Sashthri Nagar 8th Lane street.