Guideline Value for Sasthri Nagar 5th Street

Sasthri Nagar 5th Street guideline value

The current guideline value of Sasthri Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sasthri Nagar 5th Street has changed

The guideline value for Sasthri Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, the value saw a significant increase in the subsequent revisions, with Rs 4,000 per sq.ft in 2023 and Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Sasthri Nagar 5th Street.

• Sasthri Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Sasthri Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthri Nagar 5th Street

For a property of 1,000 sq.ft at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. 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 precise calculations.

Which Sub Registrar Office covers Sasthri Nagar 5th Street?

The Sub Registrar Office covering Sasthri Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is crucial for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sasthri Nagar 5th Street?

The current guideline value of Sasthri Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Sasthri Nagar 5th Street?

The land classification for Sasthri Nagar 5th Street is Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Sasthri Nagar 5th Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.