Guideline Value for Sasthiri Nagar 7th Street

Sasthiri Nagar 7th Street guideline value

The current guideline value of Sasthiri Nagar 7th 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 7th Street has changed

Over the years, the guideline value for Sasthiri Nagar 7th Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and then further increased to the current value of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures 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 among these streets is Rs 2,450 per sq.ft, and Sasthiri Nagar 7th Street's 2024 figure of Rs 2,700 per sq.ft is above this median.

• Sasthiri Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar 7th 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. It is important to 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 7th Street?

The Sasthiri Nagar 7th Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Jampuli. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it affects the overall costs involved in the transaction. Buyers should be aware that the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenditure.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 7th Street?

The current guideline value of Sasthiri Nagar 7th 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 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 7th Street?

Sasthiri Nagar 7th Street is classified as Residential Class I Type - I.

Which office handles registrations for Sasthiri Nagar 7th Street?

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

How is the stamp duty calculated for properties in Sasthiri Nagar 7th Street?

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