Guideline Value for SADIQ BASHA STREET

Sadiq Basha Street guideline value

The current guideline value of Sadiq Basha Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Sadiq Basha Street has changed

The guideline value for Sadiq Basha Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 125 per sq.ft, which saw a significant increase to Rs 800 per sq.ft in the 2012 revision. However, it decreased to Rs 536 per sq.ft in 2017, before rising again to Rs 800 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a 49% increase, while the overall change from 2007 to 2024 reflects a substantial increase of 540%. The guideline value remained unchanged from 2023 to 2024, indicating stability at the current rate.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Sadiq Basha Street's 2024 guideline value of Rs 800 per sq.ft is below this median.

• Sakthi Nagar: Rs 800 per sq.ft (2024)
• Sakthi Street: Rs 800 per sq.ft (2024)
• Sannathi Street: Rs 800 per sq.ft (2024)
• Ramaswamy Street: Rs 800 per sq.ft (2024)
• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sadiq Basha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making a total of Rs 72,000. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sadiq Basha Street?

Sadiq Basha Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction adheres to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sadiq Basha Street?

The current guideline value of Sadiq Basha Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, decreased to Rs 536 per sq.ft in 2017, and then remained at Rs 800 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties on Sadiq Basha Street?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles the registration for Sadiq Basha Street?

The Manavalanagar Sub Registrar Office handles the registration for Sadiq Basha Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the classification of land on Sadiq Basha Street?

Sadiq Basha Street is classified as Residential Class I Type - II, indicating its intended use for residential purposes.