Guideline Value for Sasthri Nagar 1st Street

Sasthri Nagar 1st Street guideline value

The current guideline value of Sasthri Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sasthri Nagar 1st Street has changed

The guideline value for Sasthri Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, a rise of 150%. However, it then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. The value saw a significant increase to Rs 2,500 per sq.ft in 2023, followed by another rise to Rs 2,700 per sq.ft in 2024, which is an 8% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sasthri Nagar 1st Street's 2024 guideline value below that median.

• Sasthri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar 3th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthri Nagar 1st Street

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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sasthri Nagar 1st Street?

The Sub Registrar Office that covers Sasthri Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sasthri Nagar 1st Street?

The current guideline value of Sasthri Nagar 1st 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an increase of 170% over the years.

What is the land classification for Sasthri Nagar 1st Street?

The land classification for Sasthri Nagar 1st Street is Residential Class II Type - I.

Where is the Sub Registrar Office for Sasthri Nagar 1st Street located?

The Sub Registrar Office for Sasthri Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sasthri Nagar 1st Street?

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