Guideline Value for Sastri Nagar

Sastri Nagar guideline value

The current guideline value of Sastri Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sastri Nagar has changed

Over the years, the guideline value for Sastri Nagar has seen significant changes. In the 2007 revision, the value was Rs 300 per sq.ft, which increased dramatically to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, there was a decrease to Rs 670 per sq.ft in the 2017 revision, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% growth.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median guideline value in the village is Rs 1,001 per sq.ft, and Sastri Nagar's 2024 figure of Rs 1,100 per sq.ft is above this median.

• Sathya Nagar: Rs 1,100 per sq.ft (2024)
• Selvamani Nagar: Rs 1,001 per sq.ft (2024)
• Sivanapadai Veethi: Rs 1,100 per sq.ft (2024)
• South Lock Road: Rs 1,000 per sq.ft (2024)
• South Pragaram Street: Rs 1,001 per sq.ft (2024)
• Rammmorthi Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sastri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sastri Nagar?

The Sub Registrar Office that covers Sastri Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathivakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the necessary fees. 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?

The current guideline value of Sastri Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Sastri Nagar?

Sastri Nagar is classified as Residential Special Type - I, indicating its designation for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for property transactions in Sastri Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.