Guideline Value for Sri Sastha Nagar

Sri Sastha Nagar guideline value

The current guideline value of Sri Sastha Nagar is Rs 2,750 per sq.ft. This area is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Sastha Nagar has changed

Over the years, the guideline value of Sri Sastha Nagar has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the 2012 revision, which also recorded Rs 2,500 per sq.ft. The next revision in 2023 maintained the same value of Rs 2,500 per sq.ft, but in 2024, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2012, there was a significant increase of 317% in the guideline value. Overall, from 2007 to 2024, the increase amounts to 358%. It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value of Sri Sastha Nagar is below this median.

• Sri Saradha Nagar: Rs 3,300 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Srirangam Nagar: Rs 3,300 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)
• Station 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Station 1st Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Sri Sastha Nagar?

The Sub Registrar Office that covers Sri Sastha Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sri Sastha Nagar?

The current guideline value of Sri Sastha Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 358%.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Sri Sastha Nagar?

The Pallavaram Sub Registrar Office is responsible for Sri Sastha Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Sri Sastha Nagar?

Sri Sastha Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.