Guideline Value for Sastha Nagar

Sastha Nagar guideline value

The current guideline value of Sastha Nagar, located in Pammal village under the Pammal SRO, is Rs 1,760 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Sastha Nagar has changed

The guideline value for Sastha Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 83 per sq.ft, which increased to Rs 94 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 260 per sq.ft in 2007, a substantial increase of 177%. Following this, the 2017 revision saw the value jump to Rs 1,072 per sq.ft, representing a remarkable 312% increase. The most recent revisions were in 2023 and 2024, with the value at Rs 1,600 per sq.ft in 2023, which then increased by 10% to Rs 1,760 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2020%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, making the Sastha Nagar guideline value below this median.

• Sastri Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Satesab Lane -Kalayanipuram: Rs 1,760 per sq.ft (2024)
• Sargunar Salai, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Sargunam Street: Rs 1,980 per sq.ft (2024)
• Sathyamoorthy Street: Rs 1,980 per sq.ft (2024)
• Sathyamoorthy Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sastha Nagar?

The Sastha Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable taxes. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 1,760 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 83 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 2020% over the years.

What are the stamp duty and registration fees for a property in Sastha Nagar?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Sastha Nagar?

The Pammal Sub Registrar Office covers Sastha Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Sastha Nagar?

The land classification for Sastha Nagar is Residential Class III Type - II, indicating its use for residential purposes.