Guideline Value for Sastri Nagar Main Road

Sastri Nagar Main Road guideline value

The current guideline value of Sastri Nagar Main Road 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 Main Road has changed

The guideline value for Sastri Nagar Main Road has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, the value then decreased to Rs 804 per sq.ft in 2017. The subsequent revisions show a significant increase, with the 2023 revision at Rs 1,200 per sq.ft, and the latest 2024 revision now at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

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, indicating that the guideline value of Sastri Nagar Main Road is below this median.

• Sastri Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• 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)
• 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 Main Road

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, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastri Nagar Main Road?

The Sastri Nagar Main Road falls under 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 when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sastri Nagar Main Road?

The current guideline value of Sastri Nagar Main Road 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 significantly from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What are the guideline values for other streets in Tondaiarpet?

Other streets in Tondaiarpet also have a guideline value of Rs 1,300 per sq.ft for the year 2024, including Sastri Nagar 1st, 2nd, 3rd, and 4th Streets, as well as Sanjay Gandhi Street and Sanjay Gandhi Nagar 6th Street.

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

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

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

The Sub Registrar Office covering Sastri Nagar Main Road is the Royapuram SRO, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.