Guideline Value for Sasthiri Nagar 12th Street

Sasthiri Nagar 12th Street guideline value

The current guideline value of Sasthiri Nagar 12th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sasthiri Nagar 12th Street has changed

The guideline value for Sasthiri Nagar 12th 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 value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, when comparing the 2012 and 2024 revisions, there is an 8% increase, reflecting the changes in the property market over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, 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 for Sasthiri Nagar 12th Street is above this median.

• Sasthiri Nagar 11th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 10th 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 12th Street

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 fees to Rs 2,43,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Sasthiri Nagar 12th Street?

The Sasthiri Nagar 12th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration process when buying or selling property in Jampuli. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with state regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 12th Street?

The current guideline value of Sasthiri Nagar 12th 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, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Sasthiri Nagar 12th Street?

Sasthiri Nagar 12th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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.

How is stamp duty calculated for properties in Jampuli?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.