Guideline Value for SANGAMITHIRAI STREET (WARD -7)

Sangamithirai Street (Ward -7) guideline value

The current guideline value of Sangamithirai Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

The guideline value for Sangamithirai Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase 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 seen a 10% increase.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Sangamithirai Street's 2024 figure above this median.

• Sanjay Nagar: Rs 550 per sq.ft (2024)
• Sanjeevi Nagar (Ward -17): Rs 661 per sq.ft (2024)
• Sankarandas Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sampath Nagar (Kr): Rs 550 per sq.ft (2024)
• Samidass Street (N): Rs 661 per sq.ft (2024)
• Sakthi Nagar (Per): Rs 661 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Sangamithirai Street (Ward -7)?

The Sub Registrar Office that covers Sangamithirai Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Peramanoor. It serves as the baseline for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps in determining the legal framework for the transaction. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

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 1,320 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 1,320 per sq.ft in 2024.

What is the median guideline value for streets in Peramanoor?

The median guideline value for streets in Peramanoor is Rs 1,100 per sq.ft, with Sangamithirai Street's 2024 figure being above this median.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How is stamp duty calculated for properties in Sangamithirai Street (Ward -7)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 92,400.