Guideline Value for Sasthiri Nagar 2nd Street

Sasthiri Nagar 2nd Street guideline value

The current guideline value of Sasthiri Nagar 2nd 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 2nd Street has changed

The guideline value for Sasthiri Nagar 2nd Street has undergone several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%.

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 2nd Street is above this median.

• Sasthiri Nagar 1st 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)
• Sasthiri Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 11th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar 2nd 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, the total cost for stamp duty and registration fee would be 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 also use the stamp duty and registration fee calculator for your convenience.

Which Sub Registrar Office covers Sasthiri Nagar 2nd Street?

The Sub Registrar Office that covers Sasthiri Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor when registering property transactions in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps in accurately calculating the applicable taxes and fees, making it an essential aspect of the property transaction process.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 2nd Street?

The current guideline value of Sasthiri Nagar 2nd 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 increased 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 2nd Street?

Sasthiri Nagar 2nd Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property 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.

Which office handles the registration for Sasthiri Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles the registration for Sasthiri Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.