Guideline Value for SANGARAPURAM 2ND STREET

Sangarapuram 2nd Street guideline value

The current guideline value of Sangarapuram 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Sangarapuram 2nd Street has changed

The guideline value for Sangarapuram 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 273 per sq.ft, which increased to Rs 334 per sq.ft in 2003, marking a 22% rise. The value then saw significant growth to Rs 1,000 per sq.ft in 2007, a 199% increase. Following this, the 2012 revision set the value at Rs 3,500 per sq.ft, reflecting a substantial 250% increase from the previous figure. However, the value dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, which is an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 1329%. There are no figures available for any other years for this street in the register.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sangarapuram 2nd Street's 2024 figure above that median.

• Sangarapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)
• Santhosh Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 3,300 per sq.ft (2024)
• Saidanya Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sangarapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sangarapuram 2nd Street?

The Sub Registrar Office that covers Sangarapuram 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sangarapuram 2nd Street?

The current guideline value of Sangarapuram 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 273 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1329% over the years.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Sangarapuram 2nd Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Sangarapuram 2nd Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Sangarapuram 2nd Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.