Guideline Value for Sasthiri Nagar 10th Street

Sasthiri Nagar 10th Street guideline value

The current guideline value of Sasthiri Nagar 10th Street in Jampuli village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Sasthiri Nagar 10th Street has changed

The guideline value for Sasthiri Nagar 10th Street has undergone several revisions over the years. 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 latest revision in 2024 has raised it to Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

Specifically, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value is Rs 2,450 per sq.ft, making the guideline value of Sasthiri Nagar 10th Street above this median.

• Sasthiri Nagar 11th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees total Rs 2,43,000. It is important to note that 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 Nagar 10th Street?

The Sasthiri Nagar 10th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Jampuli. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. The guideline value ensures that the transaction is recorded at a fair price as per the local regulations.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 10th Street?

The current guideline value of Sasthiri Nagar 10th Street 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 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. From 2017 to 2023, it increased by 49%, but it decreased from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017.

What is the land classification for Sasthiri Nagar 10th Street?

Sasthiri Nagar 10th Street is classified as Residential Class I Type - I, indicating it is designated for residential use.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.