Guideline Value for Sasthiri Nagar 11th Street

Sasthiri Nagar 11th Street guideline value

The current guideline value of Sasthiri Nagar 11th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sasthiri Nagar 11th Street has changed

Over the years, the guideline value of Sasthiri Nagar 11th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,700 per sq.ft as of the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024, and there was a substantial increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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, with a median value of Rs 2,450 per sq.ft. The guideline value of Sasthiri Nagar 11th Street is above this median.

• Sasthiri Nagar 10th 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 11th 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, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sasthiri Nagar 11th Street?

The Sub Registrar Office that covers Sasthiri Nagar 11th Street is 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 critical factor when buying or selling property in Jampuli. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair value for tax purposes. When registering a property, the guideline value will be used to calculate the stamp duty and registration fees.

Additionally, the guideline value helps in the assessment of property taxes and can influence the financing options available to buyers. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 11th Street?

The current guideline value of Sasthiri Nagar 11th 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 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 Nagar 11th Street?

The land classification for Sasthiri Nagar 11th Street is Residential Class I Type - I.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which office handles registrations for Sasthiri Nagar 11th Street?

The Madhavaram Sub Registrar Office handles registrations for Sasthiri Nagar 11th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.