Guideline Value for Sri Sastha Nagar

Sri Sastha Nagar guideline value

The current guideline value of Sri Sastha Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Nallur village under the Sriperumpudur SRO, classified as New House Site Type -III (Approved Lay-Out).

How the guideline value of Sri Sastha Nagar has changed

The guideline value for Sri Sastha Nagar has seen several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, in 2017, it was adjusted down to Rs 234 per sq.ft, before returning to Rs 350 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 50%, while the change from 2012 to 2017 was a decrease of 33%. The substantial increase from 2007 to 2012 was 250%. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft, with a median value of Rs 250 per sq.ft. Sri Sastha Nagar's 2024 guideline value of Rs 350 per sq.ft is above this median.

• Sri Venkateswara Nagar: Rs 350 per sq.ft (2024)
• Sriperumpudur Kundrathur Road: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar Part-II: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar Part-I: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar: Rs 250 per sq.ft (2024)
• S.R. Garden: Rs 150 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important 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.

Which Sub Registrar Office covers Sri Sastha Nagar?

The Sub Registrar Office that covers Sri Sastha Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sastha Nagar?

The current guideline value of Sri Sastha Nagar is Rs 350 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 100 per sq.ft in 2007, increasing to Rs 350 per sq.ft in 2012, then decreasing to Rs 234 per sq.ft in 2017, and returning to Rs 350 per sq.ft in 2023 and 2024.

What is the land classification for Sri Sastha Nagar?

Sri Sastha Nagar is classified as New House Site Type -III (Approved Lay-Out) under the Sriperumpudur SRO.

What are the guideline values of other streets in Nallur?

Other streets in Nallur have varying guideline values ranging from Rs 126 to Rs 700 per sq.ft. For instance, Sri Venkateswara Nagar and Sri Balaji Nagar Part-I both have a guideline value of Rs 350 per sq.ft in 2024.

How is stamp duty calculated for properties in Sri Sastha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft would incur a stamp duty of Rs 24,500.