Guideline Value for Sastha Garden

Sastha Garden guideline value

The current guideline value of Sastha Garden, located in Erumaiyur village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sastha Garden has changed

The guideline value for Sastha Garden has undergone several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 400 per sq.ft in 2023, and further rose to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has shown a modest increase of 10%.

Guideline values in Erumaiyur

Erumaiyur village has 21 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median value of these streets is Rs 940 per sq.ft, placing Sastha Garden's current value below that median.

• Royal Enclave: Rs 2,200 per sq.ft (2024)
• Sobha Blossom: Rs 4,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Varadhapuri Nagar: Rs 940 per sq.ft (2024)
• Tambaram - Pazhanthandalam Road: Rs 550 per sq.ft (2024)
• Tambaram Somangalam Road (Royal Enclave): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sastha Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastha Garden?

The Sastha Garden area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erumaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sastha Garden?

The current guideline value of Sastha Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the stamp duty rate for property in Sastha Garden?

The stamp duty rate for property transactions in Sastha Garden is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sastha Garden?

The Sub Registrar Office for Sastha Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the guideline values of other streets in Erumaiyur?

Other streets in Erumaiyur have varying guideline values, with rates ranging from Rs 440 to Rs 4,300 per sq.ft. For example, Royal Enclave is valued at Rs 2,200 per sq.ft, while Sobha Blossom is at Rs 4,300 per sq.ft.