Guideline Value for SAPTANK KULAM (WARD -3)

Saptank Kulam (Ward -3) guideline value

The current guideline value for Saptank Kulam (Ward -3) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and falls under the Residential Class I Type - III land classification.

How the guideline value of Saptank Kulam (Ward -3) has changed

The guideline value for Saptank Kulam has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. In the 2023 revision, the value increased significantly to Rs 600 per sq.ft, and in the latest 2024 revision, it further rose to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a total increase of 10%, with the current rate of Rs 660 per sq.ft being below the median value of Rs 1,100 per sq.ft for the 449 streets in Ninna Karai.

Guideline values in Ninna Karai

Ninna Karai village has a range of guideline values, with figures for 2024 varying from Rs 440 to Rs 3,500 per sq.ft. Saptank Kulam (Ward -3) is at Rs 660 per sq.ft, which is below the median of Rs 1,100 per sq.ft. Below are the guideline values for other streets in Ninna Karai:

• Sankarandas Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sangamithirai Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Satamangalam Erikarai Street (Ward -15): Rs 440 per sq.ft (2024)
• Sampath Nagar (Kr): Rs 440 per sq.ft (2024)
• Sathiyasai Nagar (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Saptank Kulam (Ward -3)

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 is calculated at 7%, amounting to Rs 46,200, and the registration fee at 2% is Rs 13,200, leading to a combined total of Rs 59,400. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saptank Kulam (Ward -3)?

The Saptank Kulam (Ward -3) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Ninna Karai. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for transferring property ownership.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saptank Kulam (Ward -3)?

The current guideline value of Saptank Kulam (Ward -3) 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 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Saptank Kulam (Ward -3)?

For a 1,000 sq.ft plot, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400 based on the current guideline value.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used to determine the applicable duties.