Guideline Value for SAMBANGI STREET

Sambangi Street guideline value

The current guideline value of Sambangi Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Sambangi Street has changed

The guideline value for Sambangi Street has seen several revisions over the years. In 2002, the value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003, marking an increase of 11%. Following this, the value surged significantly to Rs 1,000 per sq.ft in 2007, reflecting a 62% increase. The next revision in 2012 saw a decrease to Rs 6,000 per sq.ft, which was a drop of 500% from the previous figure. However, from 2012 to 2017, the value dropped further to Rs 4,020 per sq.ft, a decrease of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, representing a 10% increase from 2023.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 1085% in the guideline value.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value for Sambangi Street.

• Saradambal Street: Rs 5,500 per sq.ft (2024)
• Saibaba Lane Western Side Of Old Mambalam Road: Rs 4,400 per sq.ft (2024)
• Sadayappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Sadayappa Mudali Lane: Rs 5,000 per sq.ft (2024)
• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 2 Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sambangi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sambangi Street?

The Sub Registrar Office that covers Sambangi Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sambangi Street?

The current guideline value of Sambangi Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 557 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 1085% across the years.

What is the land classification for Sambangi Street?

Sambangi Street is classified as Residential Class II Type - I under the Thiyagaraya nagar SRO.

What are the stamp duty and registration fees for properties in Sambangi Street?

For a 1,000 sq.ft property, the total guideline value is Rs 66,00,000, leading to a stamp duty of Rs 4,62,000 and a registration fee of Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Sambangi Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.