Guideline Value for SANGOTHAIAMMAN KOIL SOUTH STREET

Sangothaiamman Koil South Street guideline value

The current guideline value of Sangothaiamman Koil South Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Sangothaiamman Koil South Street has changed

The guideline value for Sangothaiamman Koil South Street has seen significant changes over the years. In 2003, the value was Rs 85 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision brought the value to Rs 2,000 per sq.ft, but it dropped to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2,488%. The register has no figure for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value in this area is Rs 1,700 per sq.ft, placing Sangothaiamman Koil South Street's 2024 figure above that median.

• Sangothaiamman Koil North Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil East Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil West Street: Rs 2,200 per sq.ft (2024)
• Sanakran Thottam: Rs 1,700 per sq.ft (2024)
• Samuthra Dwaraga Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sangothaiamman Koil South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sangothaiamman Koil South Street?

The Sangothaiamman Koil South Street falls under 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 information.

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

The guideline value plays a crucial role when buying or selling property in Uthandi. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers should be aware that the guideline value is often considered the minimum value for the property transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value for taxation purposes. It helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sangothaiamman Koil South Street?

The current guideline value of Sangothaiamman Koil South Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 85 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 2,488% over the years.

What is the median guideline value in Uthandi?

The median guideline value in Uthandi is Rs 1,700 per sq.ft, with Sangothaiamman Koil South Street's current value being above this median.

What are the stamp duty rates applicable?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles the registration for Sangothaiamman Koil South Street?

The Neelankarai Sub Registrar Office handles the registration for Sangothaiamman Koil South Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.