Guideline Value for SAPTANK KULAM (WARD -3)

Saptank Kulam (Ward -3) guideline value

The current guideline value of Saptank Kulam (Ward -3) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

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 400 per sq.ft, but this figure was reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most significant change occurred between 2017 and 2023, where the value rose by 49%. It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Saptank Kulam's 2024 figure below this median.

• Sankarandas Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sangamithirai Street (Ward -7): Rs 1,320 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that 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 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value of Saptank Kulam changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Saptank Kulam?

The land classification for Saptank Kulam (Ward -3) is Residential Class II Type - II.

Which office handles registrations for Saptank Kulam?

The registrations for Saptank Kulam (Ward -3) are handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in Saptank Kulam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.