Guideline Value for Sasthri Nagar 2nd Street

Sasthri Nagar 2nd Street guideline value

The current guideline value of Sasthri Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Sasthri Nagar 2nd Street has changed

The guideline value for Sasthri Nagar 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The guideline value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,700 per sq.ft in the 2024 revision, which is an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 170%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value for Sasthri Nagar 2nd Street is below this median.

• Sasthri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)
• Sathiya Sai Nagar: Rs 2,200 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)

Stamp duty and registration fee for property in Sasthri Nagar 2nd Street

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 is charged at 7%, totaling 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 would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sasthri Nagar 2nd Street?

The Sasthri Nagar 2nd Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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 that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the sale.

Frequently asked questions

What is the current guideline value of Sasthri Nagar 2nd Street?

The current guideline value of Sasthri Nagar 2nd 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, representing an overall increase of 170% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 2,700 per sq.ft include Sasthri Nagar 1st Street, Sasthri Nagar 3rd Street, and Sasthiri Avenue.

What is the stamp duty rate for properties in Sasthri Nagar 2nd Street?

The stamp duty rate for properties in Sasthri Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sasthri Nagar 2nd Street?

The Sub Registrar Office covering Sasthri Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.