Guideline Value for Sri sastha Nagar

Sri sastha Nagar guideline value

The current guideline value of Sri sastha Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village and falls under the Ambattur SRO. The land classification for this street is Residential Class V Type - I.

How the guideline value of Sri sastha Nagar has changed

The guideline value for Sri sastha Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 1,002 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 113%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 43% in the guideline value.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Sri sastha Nagar is below this median.

• Sri Vinayagar Nagar: Rs 1,002 per sq.ft (2024)
• Sri Raja Rajaeswari Nagar: Rs 1,002 per sq.ft (2024)
• Station Road: Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 7): Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 6): Rs 1,700 per sq.ft (2024)
• Subramaniyam Street: Rs 1,300 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 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, totaling Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also 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 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 additional information.

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

The guideline value plays a crucial role in property transactions in Menambedu, as it is used to determine the stamp duty and registration fees during the sale process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with the transaction.

When registering a property, the guideline value is assessed to determine the applicable taxes. This ensures that both parties are aware of the financial obligations involved in the transfer of ownership, making it an essential part of the buying and selling process in the region.

Frequently asked questions

What is the current guideline value of Sri sastha Nagar?

The current guideline value of Sri sastha Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,002 per sq.ft in 2024.

What is the land classification for Sri sastha Nagar?

Sri sastha Nagar is classified as Residential Class V Type - I, indicating its use for residential purposes.

What is the stamp duty rate for properties in Sri sastha Nagar?

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

Where is the Sub Registrar Office for Sri sastha Nagar located?

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