Guideline Value for Sasthiri Nagar

Sasthiri Nagar guideline value

The current guideline value of Sasthiri Nagar, Ist Division village, under the Kanchipuram Joint IV SRO is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sasthiri Nagar has changed

The guideline value for Sasthiri Nagar has undergone several revisions over the years. As per the register, the 2012 revision listed the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and currently stands at Rs 880 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Ist Division

The guideline values for the 79 streets in Ist Division under the Kanchipuram Joint IV SRO range from Rs 800 to Rs 3,300 per sq.ft, with the median value being Rs 880 per sq.ft. Sasthiri Nagar's 2024 figure matches this median.

• Sannathi Street: Rs 2,200 per sq.ft (2024)
• Seshathiripalayam mettu Street: Rs 1,100 per sq.ft (2024)
• Seshathiripalayam Palani Chetty Street: Rs 1,100 per sq.ft (2024)
• Seshathiripalayam Road Street: Rs 1,100 per sq.ft (2024)
• Seshathiripalayam Street: Rs 1,100 per sq.ft (2024)
• Sethurapillai Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. 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 details.

Which Sub Registrar Office covers Sasthiri Nagar?

The Sasthiri Nagar area is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ist Division. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar?

The current guideline value of Sasthiri Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is currently Rs 880 per sq.ft in 2024.

What is the land classification of Sasthiri Nagar?

Sasthiri Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Sasthiri Nagar?

The Sub Registrar Office covering Sasthiri Nagar is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.