Guideline Value for Sastri Nagar (All Streets)

Sastri Nagar (All Streets) guideline value

The current guideline value of Sastri Nagar (All Streets) is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Sastri Nagar (All Streets) has changed

The guideline value for Sastri Nagar (All Streets) has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 616 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 62%. The value then surged to Rs 3,100 per sq.ft in 2012, reflecting a remarkable increase of 210%. However, it decreased to Rs 2,077 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase again to Rs 3,100 per sq.ft in 2023, followed by the latest revision to Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figure for Sastri Nagar (All Streets) in 2002. Overall, from 2003 to 2024, the guideline value has increased by 452%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, making the current value of Sastri Nagar (All Streets) lower than this median.

• Sathya Vani Muthu Nagar (huts): Rs 2,800 per sq.ft (2024)
• Savuri Muthu Lane: Rs 6,300 per sq.ft (2024)
• Scan IceLIne: Rs 6,300 per sq.ft (2024)
• SchoolRoad: Rs 3,900 per sq.ft (2024)
• Selvanathan street: Rs 7,100 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sastri Nagar (All Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. Please 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 details.

Which Sub Registrar Office covers Sastri Nagar (All Streets)?

The Sub Registrar Office that covers Sastri Nagar (All Streets) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Egmore. It determines the minimum value at which the property can be registered and affects the stamp duty and registration fees that need to be paid.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The authorities use the guideline value to assess the property’s worth and calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Sastri Nagar (All Streets)?

The current guideline value of Sastri Nagar (All Streets) is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 616 per sq.ft in 2003 to Rs 3,400 per sq.ft in 2024, an overall increase of 452% from 2003 to 2024.

What is the land classification of Sastri Nagar (All Streets)?

Sastri Nagar (All Streets) is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Sastri Nagar?

The Sub Registrar Office for Sastri Nagar (All Streets) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Sastri Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 34,00,000 would incur a stamp duty of Rs 2,38,000.