Guideline Value for SANGEETHAM NAGAR

Sangeetham Nagar guideline value

The current guideline value of Sangeetham Nagar, located in Kolathuvancheri village, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Sangeetham Nagar has changed

Over the years, the guideline value of Sangeetham Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase from Rs 600 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 402 per sq.ft, indicating a significant increase of +49% over the six years leading up to 2023. The 2012 revision also recorded a value of Rs 600 per sq.ft, but this represented a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was the first recorded figure for Sangeetham Nagar, followed by the revisions in 2017, 2023, and the current value in 2024.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Sangeetham Nagar is below this median, indicating a relatively lower valuation compared to other streets in the area.

• Sanga Mithra Avenue: Rs 1,650 per sq.ft (2024)
• Senthamzhil Nagar: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 1st Main Salai: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar Extension: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Sangeetham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sangeetham Nagar?

Sangeetham Nagar falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathuvancheri. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price. If the sale price is higher than the guideline value, the stamp duty is charged on the sale price. This ensures that the transaction reflects a fair valuation in accordance with the current market standards.

Frequently asked questions

What is the current guideline value of Sangeetham Nagar?

The current guideline value of Sangeetham Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a +10% increase. It was Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012, showing a +49% increase from 2017 to 2023.

What is the land classification of Sangeetham Nagar?

Sangeetham Nagar is classified as Residential Class IV Type - III, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Sangeetham Nagar?

The Sub Registrar Office for Sangeetham Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Sangeetham Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.