Guideline Value for SANGAMITHIRAI STREET (WARD -7)

Sangamithirai Street (Ward -7) guideline value

The current guideline value of Sangamithirai Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Sangamithirai Street (Ward -7) has changed

The guideline value for Sangamithirai Street (Ward -7) has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in 2023, rising to Rs 1,200 per sq.ft, and then further increased by 10% to Rs 1,321 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village features a range of guideline values across its 449 streets under the Chengleput Joint II SRO. The 2024 figures for these streets range from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sangamithirai Street's 2024 guideline value of Rs 1,321 per sq.ft is above this median.

• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sankarandas Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Sampath Nagar (Kr): Rs 440 per sq.ft (2024)
• Samidass Street (N): Rs 660 per sq.ft (2024)
• Sakthi Nagar (Per): Rs 440 per sq.ft (2024)
• Saptank Kulam (Ward -3): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sangamithirai Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. 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 Sangamithirai Street (Ward -7)?

The Chengleput Joint II Sub Registrar Office covers Sangamithirai Street (Ward -7). The office is 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 Ninna Karai

The guideline value is a crucial factor in property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer purchases a property, the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

This system ensures that the property is registered at a value that reflects the current market conditions, providing a transparent framework for property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sangamithirai Street (Ward -7)?

The current guideline value of Sangamithirai Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Sangamithirai Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Which Sub Registrar Office is responsible for Sangamithirai Street?

The Chengleput Joint II Sub Registrar Office is responsible for Sangamithirai Street (Ward -7), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the range of guideline values in Ninna Karai?

The guideline values in Ninna Karai range from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sangamithirai Street's guideline value of Rs 1,321 per sq.ft is above this median.