Guideline Value for RAIL NAGAR 5ND STREET (WARD -2)

Rail Nagar 5nd Street (Ward -2) guideline value

The current guideline value of Rail Nagar 5nd Street (Ward -2) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rail Nagar 5nd Street (Ward -2) has changed

Over the years, the guideline value of Rail Nagar 5nd Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 670 per sq.ft. The value then increased to Rs 1,000 per sq.ft in the 2023 revision, reflecting a 49% rise from the 2017 figure. The most recent 2024 revision has set the guideline value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the fluctuation seen in the intervening years.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is the same as the guideline value for Rail Nagar 5nd Street (Ward -2).

• Rail Nagar 4nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 6nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar, 3rd Cross Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 7nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 3nd Street (Ward -2): Rs 1,100 per sq.ft (2024)
• Rail Nagar 8nd Street (Ward -2): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rail Nagar 5nd Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rail Nagar 5nd Street (Ward -2)?

The Sub Registrar Office that covers Rail Nagar 5nd Street (Ward -2) 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 metric used during the registration of property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to avoid discrepancies during the registration process. It is essential to ensure that the sale price is at least equal to or greater than the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Rail Nagar 5nd Street (Ward -2)?

The current guideline value of Rail Nagar 5nd Street (Ward -2) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Rail Nagar 5nd Street (Ward -2)?

The land classification for Rail Nagar 5nd Street (Ward -2) is Residential Class I Type - I.

What are the registration fees for property in Rail Nagar 5nd Street (Ward -2)?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Where is the Sub Registrar Office for Rail Nagar 5nd Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.