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 Kodungaiyur 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. The earliest recorded revision was in 2012, setting the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure.

Between the 2012 and 2017 revisions, there was a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 8%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median value being Rs 2,700 per sq.ft. Sasthiri Nagar 2nd Street's 2024 figure aligns with this median.

• Sasthiri Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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. 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 during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations involved in the transaction. This helps both buyers and sellers understand the costs associated with property registration in the area.

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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, followed by an increase to Rs 2,700 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What is the land classification for Sasthiri Nagar 2nd Street?

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

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Sasthiri Nagar 2nd Street?

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