Guideline Value for Sastri Street 1st Cross Street

Sastri Street 1st Cross Street guideline value

The current guideline value of Sastri Street 1st Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sastri Street 1st Cross Street has changed

The guideline value for Sastri Street 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 500 per sq.ft. This increased to Rs 546 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 850 per sq.ft in 2007, reflecting an increase of +56%. In 2012, the guideline value was revised to Rs 4,500 per sq.ft, which was a substantial increase of +429% from the previous figure. However, in 2017, the value decreased to Rs 3,015 per sq.ft, showing a decline of -33%. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, an increase of +10% from the previous year.

There are no figures available for the years not mentioned in the revisions, specifically for the years between 2017 and 2023. Overall, from 2002 to 2024, the guideline value has increased by +890%.

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 for these streets is Rs 4,400 per sq.ft, placing Sastri Street 1st Cross Street above this median.

• Sastri Street 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Sastri Street ( Santhi Nagar): 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 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value would be 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, totaling Rs 4,45,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sastri Street 1st Cross Street?

The Sub Registrar Office that covers Sastri Street 1st Cross Street 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 a crucial factor when registering property in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps determine the legal obligations for both parties involved. It ensures transparency in the transaction process and provides a reference point for the valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Sastri Street 1st Cross Street?

The current guideline value of Sastri Street 1st Cross Street 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 multiple times, starting from Rs 500 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of +890% over the years.

What are the stamp duty and registration fees for property in Sastri Street 1st Cross Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total cost would be Rs 4,45,500.

Which office handles registrations for Sastri Street 1st Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Sastri Street 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Saligramam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions in the area. It is revised periodically to reflect changes in property values.