Guideline Value for Sasthri Nagar 3rd Street

Sasthri Nagar 3rd Street guideline value

The current guideline value of Sasthri Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sasthri Nagar 3rd Street has changed

Over the years, the guideline value of Sasthri Nagar 3rd Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft. The 2017 revision marked a notable increase to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in 2024, reflecting an overall change of +170% from 2007 to 2024.

Specifically, the guideline value increased by 150% from 2007 to 2012, saw a decrease of 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The change from 2023 to 2024 was an increase of 8%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 3,300 per sq.ft. Sasthri Nagar 3rd Street's 2024 guideline value is below this median.

• Sasthri Nagar 2nd 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 3rd 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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 information.

Which Sub Registrar Office covers Sasthri Nagar 3rd Street?

The Sub Registrar Office that covers Sasthri Nagar 3rd Street is 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 an essential factor during the registration process of property transactions in Kolathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value aids in establishing a fair basis for the transaction, as it reflects the official valuation set by the government. This helps in avoiding disputes and ensures transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sasthri Nagar 3rd Street?

The current guideline value of Sasthri Nagar 3rd 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, reflecting an overall increase of 170% over the years.

What is the land classification for Sasthri Nagar 3rd Street?

Sasthri Nagar 3rd Street is classified as Residential Class II Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sasthri Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.