Guideline Value for Sasthiri Nagar

Sasthiri Nagar guideline value

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

How the guideline value of Sasthiri Nagar has changed

Looking at the revisions, the guideline value for Sasthiri Nagar was Rs 2,500 per sq.ft in 2012. It decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,700 per sq.ft, representing a rise of 61%.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not provide figures for the years 2002, 2003, 2007, and 2023 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. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Sasthiri Nagar.

• Sasthiri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 2nd Street: 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

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 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sasthiri Nagar?

The Sasthiri Nagar area falls under 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 property registration in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must be aware of the guideline value, as it affects the financial obligations during the transaction. It is advisable to check the latest figures to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sasthiri Nagar?

The current guideline value of Sasthiri Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, with a decrease to Rs 1,675 per sq.ft in 2017, followed by an increase to Rs 2,700 per sq.ft in 2024.

What is the land classification of Sasthiri Nagar?

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

Where is the Madhavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Sasthiri Nagar?

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.