Guideline Value for Sasthiri Nagar 8th Street

Sasthiri Nagar 8th Street guideline value

The current guideline value of Sasthiri Nagar 8th 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 8th Street has changed

Over the years, the guideline value for Sasthiri Nagar 8th Street has seen several revisions. 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. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

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 8th Street is above this median.

• Sasthiri Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar Extension: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar 8th 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 higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sasthiri Nagar 8th Street?

The Sasthiri Nagar 8th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby safeguarding the interests of both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar 8th Street?

The current guideline value of Sasthiri Nagar 8th 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, reflecting an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Sasthiri Nagar 8th Street?

Sasthiri Nagar 8th Street is classified as Residential Class I Type - I under the Madhavaram SRO.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.