Guideline Value

Corporate

Guideline Value for Sri Sastha Nagar

₹720/sq.ft.

The guideline value for Sri Sastha Nagar in Serapanancheri village (Padappai SRO, Chennai zone) is Rs 720 per sq.ft, effective 1 July 2024. It was Rs 650 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Serapanancheri

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹720 /sq.ft.
From 1-4-2023 ₹650 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹435 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Sastha Nagar

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Sri Sastha Nagar guideline value

The current guideline value of Sri Sastha Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This locality is situated in Serapanancheri village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Sastha Nagar has changed

The guideline value for Sri Sastha Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 720 per sq.ft, an increase from Rs 650 per sq.ft in 2023, reflecting an 11% rise. Prior to that, the 2017 revision recorded a guideline value of Rs 435 per sq.ft, marking a significant 49% increase to the 2023 figure. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. This consistent upward trend highlights the evolving valuation of properties in this area.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median guideline value for these streets is Rs 720 per sq.ft, which aligns with the current value of Sri Sastha Nagar.

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 720 per sq.ft, the total guideline value would be Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would amount to Rs 14,400. Together, the total cost for these fees would be Rs 64,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sastha Nagar?

Sri Sastha Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Serapanancheri, as it determines the minimum price at which properties can be registered. Buyers should be aware that the guideline value is used to calculate stamp duty and registration fees, which are essential costs in any property transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any legal complications during registration. This ensures that the transaction adheres to government regulations and helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Sastha Nagar?

The current guideline value of Sri Sastha Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 435 per sq.ft in 2017 to Rs 720 per sq.ft in 2024, reflecting an overall increase of 66% over this period.

What are the stamp duty rates for properties in Sri Sastha Nagar?

The stamp duty for properties in Sri Sastha Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What other streets have the same guideline value as Sri Sastha Nagar?

Other streets in Serapanancheri that share the same guideline value of Rs 720 per sq.ft include Sri Sai Nagar, Sri Meenkshi Nagar Phase - I, Sri Meenatchi Nagar Phase - II, Sri Meenakshi Nagar, and Sri Kannan Nagar.