Guideline Value for Sastri Nagar

Sastri Nagar guideline value

The current guideline value of Sastri Nagar, located in Saligramam village under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sastri Nagar has changed

The guideline value of Sastri Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 385 per sq.ft, which increased to Rs 421 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 850 per sq.ft in 2007. The 2012 revision brought the value back to Rs 4,000 per sq.ft, but it decreased to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, culminating in the current value of Rs 4,400 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1043%. The value rose by 9% from 2002 to 2003, 102% from 2003 to 2007, and 371% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a further increase of 10% from 2023 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value range from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Sastri Nagar.

• Sastri Street 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Sastri Street 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Sastri Street ( Santhi Nagar): Rs 4,950 per sq.ft (2024)
• Saravana Colony - Sri Ramalu Street: Rs 4,950 per sq.ft (2024)
• Satya Garden - Gopal Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Kakkan Street: Rs 5,500 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastri Nagar?

The Sub Registrar Office that covers Sastri Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Saligramam. It determines the minimum price at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is crucial to be aware of the guideline value as it affects the overall transaction costs, including the stamp duty and registration fees. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Sastri Nagar?

The current guideline value of Sastri Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 385 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1043% over the years.

What are the stamp duty and registration fees for property in Sastri Nagar?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Sastri Nagar?

The Virugambakkam Sub Registrar Office handles registrations for Sastri Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Sastri Nagar?

Sastri Nagar is classified as Residential Class II Type - I under the guideline value register.