Guideline Value for Sastri Nagar 3rd street

Sastri Nagar 3rd street guideline value

The current guideline value of Sastri Nagar 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sastri Nagar 3rd street has changed

The guideline value for Sastri Nagar 3rd street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This value increased to Rs 1,200 per sq.ft in 2012, marking a significant growth of 100%. However, it dropped to Rs 804 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in the 2024 revision, which is an 8% rise from the previous year.

There are no recorded figures for the years 2002 and 2003 for Sastri Nagar 3rd street. Overall, from 2007 to 2024, the guideline value has increased by 117%, showcasing the fluctuations in property valuation over the years.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Sastri Nagar 3rd street is below this median.

• Sastri Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar 1st 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 3rd 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 charged at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sastri Nagar 3rd street?

The Sastri Nagar 3rd street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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 a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed alongside the sale price. The higher of the two values is considered for calculating the applicable duties and fees during the registration process.

Frequently asked questions

What is the current guideline value of Sastri Nagar 3rd street?

The current guideline value of Sastri Nagar 3rd 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 1,300 per sq.ft in 2024, reflecting a total increase of 117% over the years.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 1,300 per sq.ft include Sastri Nagar 1st street, Sastri Nagar 2nd street, Sastri Nagar 4th street, Sastri Nagar Main Road, Sanjay Gandhi Street (Moopanar Nagar), and Sanjay Gandhi Nagar 6th street.

What is the registration fee for property in Sastri Nagar 3rd street?

The registration fee for property in Sastri Nagar 3rd street is calculated based on the guideline value or sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a registration fee of Rs 26,000 at 2%.

Where is the Sub Registrar Office for Sastri Nagar 3rd street located?

The Sub Registrar Office covering Sastri Nagar 3rd street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.