Guideline Value for Sastha Nagar

Sastha Nagar guideline value

The current guideline value of Sastha Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Sastha Nagar has changed

The guideline value for Sastha Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased dramatically to Rs 1,300 per sq.ft in 2012, marking a rise of 189%. However, it then decreased to Rs 871 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,300 per sq.ft in 2023, and currently stands at Rs 1,430 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 218%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value for Sastha Nagar is below this median.

• Sarva Ganapthi Nagar: Rs 1,430 per sq.ft (2024)
• Santron P Sakrapani Garden: Rs 2,090 per sq.ft (2024)
• Santhi Nagar: Rs 1,540 per sq.ft (2024)
• Seervi Nagar: Rs 1,320 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 1,430 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,320 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, while the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. 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 Nagar?

The Sub Registrar Office that covers Sastha Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to determine the applicable stamp duty and registration fees. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 450 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, representing an overall increase of 218%.

What is the land classification for Sastha Nagar?

Sastha Nagar falls under the Residential Class I Type - III land classification.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sastha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at a rate of 7%.