Guideline Value for Shasthri Nagar

Shasthri Nagar guideline value

The current guideline value of Shasthri Nagar is Rs 2,000 per sq.ft, as per the 2023 revision. This area falls under Urapakkam village and is registered with the Gooduvancheri SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Shasthri Nagar has changed

Over the years, the guideline value of Shasthri Nagar has seen several revisions. The 2007 revision set the value at Rs 670 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 199% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, a decline of 33% from the previous figure. The latest revision in 2023 restored the value to Rs 2,000 per sq.ft, reflecting a 49% increase from 2017.

In summary, the overall change from the 2007 revision to the 2023 revision shows a remarkable increase of 199%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific village figures available for Urapakkam. Shasthri Nagar is one of the streets under the Gooduvancheri SRO. Unfortunately, there are no other streets in Urapakkam listed with guideline values.

Stamp duty and registration fee for property in Shasthri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty is charged at 7%, amounting to Rs 1,40,000, while the registration fee is 2%, totaling Rs 40,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,80,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on your specific property.

Which Sub Registrar Office covers Shasthri Nagar?

The Sub Registrar Office that covers Shasthri Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Urapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation.

It is important to ensure that the sale price is either equal to or greater than the guideline value, as the duty is charged on the higher of the two. This ensures compliance with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Shasthri Nagar?

The current guideline value of Shasthri Nagar is Rs 2,000 per sq.ft, according to the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally returned to Rs 2,000 per sq.ft in 2023.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 20,00,000. The stamp duty at 7% is Rs 1,40,000, and the registration fee at 2% is Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office covers Shasthri Nagar?

The Gooduvancheri Sub Registrar Office covers Shasthri Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there other streets in Urapakkam with guideline values?

Currently, there are no other streets in Urapakkam listed with guideline values under the Gooduvancheri SRO.