Guideline Value for SANJEEVI NAGAR

Sanjeevi Nagar guideline value

The current guideline value of Sanjeevi Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sanjeevi Nagar has changed

The guideline value for Sanjeevi Nagar has seen several revisions over the years. The 2002 revision recorded a value of Rs 668 per sq.ft, which increased to Rs 900 per sq.ft in 2003, marking a 35% rise. The value continued to grow significantly, reaching Rs 1,250 per sq.ft in 2007, a 39% increase from the previous year. By 2012, the figure had risen to Rs 5,500 per sq.ft, reflecting a remarkable 340% increase. However, this was followed by a decrease to Rs 3,685 per sq.ft in 2017, which was a 33% drop. The 2023 revision brought the value back up to Rs 5,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 6,000 per sq.ft, a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Sanjeevi Nagar has increased by 798%. There are no figures available for the revisions in years other than those listed.

Guideline values in Arumbakkam

In Arumbakkam village, there are 391 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which is equal to the current value for Sanjeevi Nagar.

• Sanjeevi Colony: Rs 6,000 per sq.ft (2024)
• Sanjeevi Street: Rs 6,000 per sq.ft (2024)
• Sathiya Varadharaja Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• S.B.I. Officer Colony III Rd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Officer Colony II Nd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Officer Colony I St Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjeevi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sanjeevi Nagar?

The Sub Registrar Office that covers Sanjeevi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential to complete the legal transfer of property ownership, ensuring that all transactions are documented and compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sanjeevi Nagar?

The current guideline value of Sanjeevi Nagar is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 668 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, which represents an overall increase of 798% over this period.

What are the other streets in Arumbakkam with the same guideline value?

Other streets in Arumbakkam with the same guideline value of Rs 6,000 per sq.ft include Sanjeevi Colony, Sanjeevi Street, S.B.I. Officer Colony III Rd Street, S.B.I. Officer Colony II Nd Street, and S.B.I. Officer Colony I St Street.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated in Sanjeevi Nagar?

Stamp duty in Sanjeevi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be calculated at 7% of this amount.