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 Sattamangalam 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 of Sangamithirai Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, making the 2024 figure for Sangamithirai Street above this median.

• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sankarandas Street (Ward -7): Rs 1,320 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 440 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, resulting in a total of 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 use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

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, 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 Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is periodically revised to reflect changes in the real estate market.

When you sell a property, the guideline value will be considered during the registration process. It ensures that the transaction is recorded at a value that is recognized by the authorities, which helps in maintaining transparency in 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 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sangamithirai Street?

The land classification for Sangamithirai Street (Ward -7) is Residential Special Type - V.

Where can I find the Sub Registrar Office for Sangamithirai Street?

The Chengleput Joint II Sub Registrar Office covers Sangamithirai Street and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Sangamithirai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.