Guideline Value for Sasthri Road

Sasthri Road guideline value

The current guideline value of Sasthri Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Sasthri Road has changed

Starting from the 2012 revision, the guideline value for Sasthri Road was Rs 4,000 per sq.ft. In the 2017 revision, it decreased to Rs 2,680 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current figure for Sasthri Road.

• Sasthri Road / Street: Rs 4,400 per sq.ft (2024)
• Sasthri Road / Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sasthri Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sasthri Road?

The Sub Registrar Office covering Sasthri Road 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 information.

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

The guideline value is an important factor during the registration of property transactions in Velachery. It serves as a reference point for calculating the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sasthri Road?

The current guideline value of Sasthri Road 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 back 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 Road?

Sasthri Road falls under the Residential Class II Type - II land classification.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the higher of the guideline value or the sale price. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where is the Sub Registrar Office for Sasthri Road located?

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