Guideline Value for Sasthiri Avenue

Sasthiri Avenue guideline value

The current guideline value of Sasthiri Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sasthiri Avenue has changed

Over the years, the guideline value of Sasthiri Avenue has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the current 2024 revision has further increased it to Rs 2,700 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 8%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Sasthiri Avenue's 2024 figure is below this median.

• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar 3th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the stamp 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 Avenue?

The Sub Registrar Office that covers Sasthiri Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sasthiri Avenue?

The current guideline value of Sasthiri Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Sasthiri Avenue?

The land classification for Sasthiri Avenue is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property in Sasthiri Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.