Guideline Value for Sastha Nagar

Sastha Nagar guideline value

The current guideline value of Sastha Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Serapanancheri village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Sastha Nagar has changed

Over the years, the guideline value for Sastha Nagar has seen several revisions. The 2012 revision set the value at Rs 650 per sq.ft, which was then reduced to Rs 435 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 650 per sq.ft in the 2023 revision, and finally rose to Rs 720 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 11% from 2023 to 2024. Overall, from 2012 to 2024, there has been an increase of 11% in the guideline value.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, making Sastha Nagar's current guideline value equal to this median.

• Sakthi Vinayagan Nagar: Rs 720 per sq.ft (2024)
• Sai Baba Nagar: Rs 990 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Shanthi Durga Nagar: Rs 720 per sq.ft (2024)
• Shanthi Durga Nagar Extn: Rs 720 per sq.ft (2024)
• Shridi Saibaba Nagar: Rs 990 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 720 per sq.ft, the guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, totaling Rs 64,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sastha Nagar?

The Sub Registrar Office that covers Sastha Nagar is 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 information.

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

The guideline value is a crucial factor when registering property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for taxation purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sastha Nagar?

The current guideline value of Sastha Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification of Sastha Nagar?

Sastha Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot valued at Rs 7,20,000, the total stamp duty and registration fees would amount to Rs 64,800, which includes Rs 50,400 for stamp duty and Rs 14,400 for the registration fee.

Where is the Sub Registrar Office for Sastha Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, and it covers Sastha Nagar.