Guideline Value for Sri Sastha Nagar

Sri Sastha Nagar guideline value

The current guideline value of Sri Sastha Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 803 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Sri Sastha Nagar has changed

The guideline value for Sri Sastha Nagar has seen significant changes over the years. The 2012 revision set the value at Rs 300 per sq.ft. This figure remained unchanged in the 2017, 2003, and 2002 revisions, as there are no figures available for these years. The 2023 revision maintained the value at Rs 803 per sq.ft, which was also the figure for the 2024 revision, indicating no change from 2023 to 2024.

From 2012 to 2023, the guideline value increased by 168%, and the overall increase from 2012 to 2024 is also 168%. The consistent value of Rs 803 per sq.ft in both 2023 and 2024 highlights stability in the guideline value for this street in recent years.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Sri Sastha Nagar's 2024 figure below the median.

• Sri Vengadeswara Nagar: Rs 803 per sq.ft (2024)
• S.S. Street: Rs 880 per sq.ft (2024)
• St. Francis Nagar: Rs 880 per sq.ft (2024)
• St Francis Nagar Extention: Rs 1,200 per sq.ft (2024)
• St Josph Nagar: Rs 806 per sq.ft (2024)
• St. Pauls Nagar: Rs 807 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 803 per sq.ft, the total guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total cost for these fees to Rs 72,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sastha Nagar?

The Sri Sastha Nagar area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property as determined by the government. This value is used to calculate the applicable fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sastha Nagar?

The current guideline value of Sri Sastha Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2012 to Rs 803 per sq.ft in 2024, marking a 168% increase overall. There were no figures available for the years 2002, 2003, 2007, and 2017.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai have varying guideline values, with rates ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft.

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 guideline value of Rs 803 per sq.ft incurs a total stamp duty of Rs 56,210.

Where can I find the Sub Registrar Office for Sri Sastha Nagar?

The Sub Registrar Office covering Sri Sastha Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.