Guideline Value for Sasthiri Street

Sasthiri Street guideline value

The current guideline value of Sasthiri Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Sasthiri Street has changed

The guideline value for Sasthiri Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 8%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, making Sasthiri Street's 2024 figure above this median.

• Sathia Narayana Street (7th Ward): Rs 1,700 per sq.ft (2024)
• SathyaNarayana Rao Street (6th Ward): Rs 1,700 per sq.ft (2024)
• School Street: Rs 1,700 per sq.ft (2024)
• Santhi Street: Rs 1,000 per sq.ft (2024)
• Sangampalli Street: Rs 1,001 per sq.ft (2024)
• Senguttuvan Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Sasthiri Street?

The Sub Registrar Office that covers Sasthiri Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to 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 stamp duty. This ensures that the fees are based on a fair valuation of the property being registered.

Frequently asked questions

What is the current guideline value of Sasthiri Street?

The current guideline value of Sasthiri Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and currently is Rs 1,300 per sq.ft in 2024.

What is the land classification of Sasthiri Street?

Sasthiri Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property on Sasthiri Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 1,17,000.

Where can I find the Sub Registrar Office for Sasthiri Street?

The Ambattur Sub Registrar Office covers Sasthiri Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.