Guideline Value for Sasthiri Nagar Annex

Sasthiri Nagar Annex guideline value

The current guideline value of Sasthiri Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Special Type - I.

How the guideline value of Sasthiri Nagar Annex has changed

The guideline value for Sasthiri Nagar Annex has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,700 per sq.ft, marking a significant rise of 61% from the 2017 figure.

When comparing the 2012 and 2017 revisions, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sasthiri Nagar Annex is above this median.

• Sasthri nagar 1st st (Ward No.1): Rs 2,700 per sq.ft (2024)
• Sasthri Nagar Annexe-1, Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)
• Sasthri nagar Burial Ground rd (Ward No.1): Rs 2,700 per sq.ft (2024)
• Sasthri nagar Main Road (Ward No.1): Rs 2,700 per sq.ft (2024)
• Sasthri Nagar (Periya Sekkadu): Rs 2,700 per sq.ft (2024)
• Sasthri Nagar, Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar Annex

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 is charged at 7%, which totals Rs 1,89,000, and the registration fee is 2%, amounting to Rs 54,000. Together, the total cost for stamp duty and registration fee is 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 Annex?

The Sasthiri Nagar Annex is covered by 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 Madhavaram

The guideline value is an essential factor during property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the registration of property. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps determine the official value of the transaction. This value is crucial for tax purposes and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar Annex?

The current guideline value of Sasthiri Nagar Annex 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, and then to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024.

What is the land classification for Sasthiri Nagar Annex?

Sasthiri Nagar Annex is classified as Residential Special Type - I. This classification indicates the intended use and regulations for properties in this area.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Sasthiri Nagar Annex?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7% and a registration fee of Rs 54,000 at 2%.