Guideline Value for SAGAYA NAGAR

Sagaya Nagar guideline value

The current guideline value of Sagaya Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Venpakkam village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Sagaya Nagar has changed

The guideline value for Sagaya Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 335 per sq.ft. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision maintained this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 500 per sq.ft.

Guideline values in Venpakkam

In Venpakkam, three streets under the Chengleput Joint II SRO have a 2024 guideline value ranging from Rs 500 to Rs 700 per sq.ft, with a median of Rs 700 per sq.ft. Sagaya Nagar's 2024 figure is below this median.

• Sarang Avenue: Rs 700 per sq.ft (2024)
• Vgn Sarang Avenue Main: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sagaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sagaya Nagar?

The Sub Registrar Office that covers Sagaya Nagar 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 Venpakkam

The guideline value is an essential factor in the registration process when buying or selling property in Venpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two values. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sagaya Nagar?

The current guideline value of Sagaya Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023 and 2024.

What other streets have guideline values in Venpakkam?

Other streets in Venpakkam under the Chengleput Joint II SRO include Sarang Avenue and Vgn Sarang Avenue Main, both valued at Rs 700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sagaya Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 500 per sq.ft, the total fees would be Rs 45,000.

Where is the Sub Registrar Office for Sagaya Nagar located?

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