Guideline Value for Sastri Nagar 2nd street

Sastri Nagar 2nd street guideline value

The current guideline value of Sastri Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Sastri Nagar 2nd street has changed

The guideline value for Sastri Nagar 2nd street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision, marking a significant change of 100%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2023, 2017, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing the 2024 figure for Sastri Nagar 2nd street below this median.

• Sastri Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Street (Moopanar Nagar): Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 6th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sastri Nagar 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sastri Nagar 2nd street?

The Sastri Nagar 2nd street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legalizing property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sastri Nagar 2nd street?

The current guideline value of Sastri Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2023, 2017, 2003, and 2002 for this street.

What is the land classification for Sastri Nagar 2nd street?

Sastri Nagar 2nd street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where can I find the registration office for Sastri Nagar 2nd street?

The registration office for Sastri Nagar 2nd street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Sastri Nagar 2nd street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.