Guideline Value for SAPTHAGIRI NAGAR

Sapthagiri Nagar guideline value

The current guideline value of Sapthagiri Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Sapthagiri Nagar has changed

The guideline value for Sapthagiri Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 60 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a substantial rise of 567%. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose again to Rs 400 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 567%.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current figure for Sapthagiri Nagar. Below are the guideline values for other streets in Venkatapuram:

• Sathiya Narayana Nagar: Rs 400 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Rajesh Nagar: Rs 400 per sq.ft (2024)
• Rainbow Garden: Rs 1,344 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthagiri Nagar?

The Sub Registrar Office that covers Sapthagiri Nagar is 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 Venkatapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, which helps maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sapthagiri Nagar?

The current guideline value of Sapthagiri Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Venkatapuram?

The median guideline value for streets in Venkatapuram is Rs 400 per sq.ft, which is the same as the current value for Sapthagiri Nagar.

What are the stamp duty and registration fees for property in Sapthagiri Nagar?

For a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value is Rs 4,00,000. The stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Sapthagiri Nagar located?

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