Guideline Value for Sashthri Nagar 9th Lane

Sashthri Nagar 9th Lane guideline value

The current guideline value of Sashthri Nagar 9th Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class I Type - I.

How the guideline value of Sashthri Nagar 9th Lane has changed

The guideline value for Sashthri Nagar 9th Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,229 per sq.ft. In 2003, it increased to Rs 1,454 per sq.ft, marking an 18% rise. The value continued to rise significantly, reaching Rs 3,300 per sq.ft in 2007, which was a 127% increase from 2003. The 2012 revision saw a slight decrease to Rs 7,000 per sq.ft, a drop of 33% from the previous year. However, by 2017, the value had increased to Rs 4,690 per sq.ft, reflecting a 49% increase from 2012. The 2023 revision set the value at Rs 7,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 7,700 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 527%. There are no figures available for the years not mentioned in the register for this street.

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 is Rs 6,600 per sq.ft, placing Sashthri Nagar 9th Lane above this median. Below are the guideline values for other streets in Urur:

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

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, leading to a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sashthri Nagar 9th Lane?

The Sashthri Nagar 9th Lane falls under 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 is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The guideline value is typically considered the baseline for these calculations.

When registering a property, the higher value between the guideline value and the actual sale price is used to compute the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sashthri Nagar 9th Lane?

The current guideline value of Sashthri Nagar 9th 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 changed significantly from Rs 1,229 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 527% over the years.

What are the stamp duty and registration fees for properties in Sashthri Nagar 9th Lane?

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

Which Sub Registrar Office covers Sashthri Nagar 9th Lane?

The Adayar Sub Registrar Office covers Sashthri Nagar 9th Lane, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Sashthri Nagar 9th Lane?

Sashthri Nagar 9th Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.