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 Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Sasthiri Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 2,700 per sq.ft, representing a rise of 61%. Overall, from 2012 to 2024, there has been a modest increase of 8% in the guideline value.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current guideline value for Sasthiri Nagar 1st Street.

• Sasthiri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 6th 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, bringing the total fees to Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Sasthiri Nagar 1st Street?

The Sub Registrar Office covering Sasthiri Nagar 1st 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 Kodungaiyur

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue based on the property's value.

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 seen various changes, from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,700 per sq.ft in 2024. Overall, there has been an 8% increase from 2012 to 2024.

Which Sub Registrar Office handles registrations for Sasthiri Nagar 1st Street?

The Madhavaram Sub Registrar Office handles registrations for Sasthiri Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property in Sasthiri Nagar 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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.

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

Sasthiri Nagar 1st Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.