Guideline Value for SANGOTHAIAMMAN KOIL WEST STREET

Sangothaiamman Koil West Street guideline value

The current guideline value of Sangothaiamman Koil West 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 West Street has changed

The guideline value for Sangothaiamman Koil West Street has seen significant changes over the years. In 2003, the guideline value was Rs 85 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, it rose dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% increase from the previous revision. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a reduction of 33%. The value then climbed to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2,488%. Notably, there is no guideline value recorded for the year 2002 for this street.

Guideline values in Uthandi

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

• Sangothaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil South Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil North Street: Rs 2,200 per sq.ft (2024)
• Sangothaiamman Koil East 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sangothaiamman Koil West Street?

The Sub Registrar Office covering Sangothaiamman Koil West Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Uthandi, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value may influence the sale price and the fees associated with the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

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

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office is responsible for Sangothaiamman Koil West Street?

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

What is the land classification for Sangothaiamman Koil West Street?

Sangothaiamman Koil West Street is classified as Residential Class II Type - I, indicating its suitability for residential development.