Guideline Value for Sastri Street ( Santhi Nagar)

Sastri Street ( Santhi Nagar) guideline value

The current guideline value of Sastri Street ( Santhi Nagar) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Sastri Street ( Santhi Nagar) has changed

Over the years, the guideline value of Sastri Street ( Santhi Nagar) has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 2,100 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a 114% increase. However, in 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 2,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, representing an overall increase of 136%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Sastri Street ( Santhi Nagar) above this median at Rs 4,950 per sq.ft.

• Sastri Street 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Sastri Street 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Sastri Nagar: Rs 4,400 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)
• Satya Garden - Kamaraj Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sastri Street ( Santhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sastri Street ( Santhi Nagar)?

The Sub Registrar Office covering Sastri Street ( Santhi Nagar) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps to ensure transparency in transactions, as it reflects the official valuation of the property. Buyers and sellers must be aware of this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sastri Street ( Santhi Nagar)?

The current guideline value of Sastri Street ( Santhi Nagar) is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and increases in 2023 and 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 49,50,000, with a stamp duty of Rs 3,46,500 and a registration fee of Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Sastri Street ( Santhi Nagar)?

The Virugambakkam Sub Registrar Office, which covers Sastri Street ( Santhi Nagar), is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sastri Street ( Santhi Nagar)?

Sastri Street ( Santhi Nagar) is classified as Residential Class I Type - I, indicating its designation for residential use within the area.