Guideline Value for Sastha Nagar 1st Cross Street

Sastha Nagar 1st Cross Street guideline value

The current guideline value of Sastha Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Sastha Nagar 1st Cross Street has changed

The guideline value for Sastha Nagar 1st Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 233 per sq.ft, which increased to Rs 254 per sq.ft in 2003, marking a 9% rise. The value then experienced a significant jump to Rs 400 per sq.ft in 2007, representing a 57% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, which was a notable 650% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1316%. There are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 3,850 per sq.ft, indicating that Sastha Nagar 1st Cross Street's current value is below this median.

• Sastha Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Ramakrishnan Street: Rs 4,400 per sq.ft (2024)
• S.B.I.Colony First Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Main Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sastha Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastha Nagar 1st Cross Street?

The Sub Registrar Office that covers Sastha Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer and seller must consider the guideline value for calculating stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Sastha Nagar 1st Cross Street?

The current guideline value of Sastha Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1316% over the years.

What is the land classification of Sastha Nagar 1st Cross Street?

Sastha Nagar 1st Cross Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Sastha Nagar 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.