Guideline Value for Sastha Nagar 2nd Cross Street

Sastha Nagar 2nd Cross Street guideline value

The current guideline value of Sastha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sastha Nagar 2nd Cross Street has changed

The guideline value for Sastha Nagar 2nd Cross Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Sastha Nagar 2nd Cross Street below this median.

• Sastha Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 1st Cross 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 2nd 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 be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastha Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sastha Nagar 2nd 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of this value to ensure that they are paying a fair amount in accordance with the registration requirements.

Frequently asked questions

What is the current guideline value of Sastha Nagar 2nd Cross Street?

The current guideline value of Sastha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 725%.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, making the guideline value of Sastha Nagar 2nd Cross Street below this median.

What are the stamp duty and registration fees for property in Sastha Nagar 2nd Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sastha Nagar 2nd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Sastha Nagar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.