Guideline Value for Sasthiri Nagar 1st Street

Sasthiri Nagar 1st Street guideline value

The current guideline value of Sasthiri Nagar 1st 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 1st Street has changed

The guideline value for Sasthiri Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased 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 2023, and then further to Rs 2,700 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024.

Between the revisions, the changes were as follows: from 2017 to 2023, there was a notable increase of 49%. However, the 2012 to 2017 revision experienced a decrease of 33%. It is important to note that there are no figures available 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 for these streets is Rs 2,450 per sq.ft, making the guideline value for Sasthiri Nagar 1st Street above this median.

• Sasthiri Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 11th 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 1st 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sasthiri Nagar 1st Street?

The Sasthiri Nagar 1st Street is covered by 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 during property registration in Jampuli. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is utilized to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 1st Street?

The current guideline value of Sasthiri Nagar 1st 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 increase of 8%. From 2017 to 2023, it rose by 49% from Rs 1,675 per sq.ft.

What is the land classification for Sasthiri Nagar 1st Street?

The land classification for Sasthiri Nagar 1st Street is Residential Class I Type - I, indicating its suitability for residential developments.

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 registrations for properties in the Sasthiri Nagar area.

How is the stamp duty calculated for properties in Sasthiri Nagar 1st Street?

Stamp duty for properties is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty and registration fee of Rs 2,43,000.