Guideline Value for Sastri Nagar 4th Street

Sastri Nagar 4th Street guideline value

The current guideline value of Sastri Nagar 4th 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 is classified as Residential Class II Type - I.

How the guideline value of Sastri Nagar 4th Street has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, representing a 100% increase. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, which is a decline of 33%. The 2023 revision saw a significant rise to Rs 1,200 per sq.ft, followed by an increase to Rs 1,300 per sq.ft in 2024, marking an 8% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value in this area is Rs 1,600 per sq.ft, indicating that the Sastri Nagar 4th Street guideline value is below this median.

• Sastri Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Sastri Nagar 2nd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Sastri Nagar 4th Street?

The Sastri Nagar 4th Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Tondaiarpet. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that property transactions are conducted transparently and fairly, adhering to the established regulations.

Frequently asked questions

What is the current guideline value of Sastri Nagar 4th Street?

The current guideline value of Sastri Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, indicating that the Sastri Nagar 4th Street value is below this median.

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

For a 1,000 sq.ft property at the guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000, with stamp duty and registration fees amounting to Rs 1,17,000 combined.

Which office handles property registrations for Sastri Nagar 4th Street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, handles property registrations for Sastri Nagar 4th Street.