Guideline Value for KORUKKANTHANGAL SALAI (WARD -18)

Korukkanthangal Salai (Ward -18) guideline value

The current guideline value of Korukkanthangal Salai (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village, under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Korukkanthangal Salai (Ward -18) has changed

The guideline value for Korukkanthangal Salai has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure was then reduced to Rs 335 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, followed by another increase to Rs 550 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Korukkanthangal Salai's 2024 figure of Rs 550 per sq.ft is below this median.

• Kothari Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Kothari Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 660 per sq.ft (2024)
• Kodikatha Kumaran Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kavimani Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Korukkanthangal Salai (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Korukkanthangal Salai (Ward -18)?

The Sub Registrar Office that covers Korukkanthangal Salai (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which properties can be registered. When buying or selling a property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in government records.

It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is regularly updated to reflect changes in the real estate market and is essential for legal compliance in property transactions.

Frequently asked questions

What is the current guideline value of Korukkanthangal Salai (Ward -18)?

The current guideline value of Korukkanthangal Salai (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Korukkanthangal Salai?

Korukkanthangal Salai is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Korukkanthangal Salai?

The Sub Registrar Office for Korukkanthangal Salai is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Korukkanthangal Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.