Guideline Value for SAPTHAGIRIVASA NAGAR

Sapthagirivasa Nagar guideline value

The current guideline value of Sapthagirivasa Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sapthagirivasa Nagar has changed

Over the years, the guideline value of Sapthagirivasa Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and finally, it reached Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for this street in 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. This reflects the fluctuations in the guideline value over the years.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value of Sapthagirivasa Nagar.

• Sapthagirivasa Nagar II: Rs 440 per sq.ft (2024)
• Saraswathi Nagar: Rs 550 per sq.ft (2024)
• Saravanan Nagar: Rs 550 per sq.ft (2024)
• Sangeetha Nagar: Rs 770 per sq.ft (2024)
• Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sai Avenue: Rs 747 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagirivasa Nagar

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, making the total charges Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthagirivasa Nagar?

The Sub Registrar Office that covers Sapthagirivasa Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vilangadupakkam. It is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, which is a mandatory fee for property registration in Tamil Nadu.

Frequently asked questions

What is the current guideline value of Sapthagirivasa Nagar?

The current guideline value of Sapthagirivasa Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value 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 to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Sapthagirivasa Nagar?

The land classification for Sapthagirivasa Nagar is Residential Class III Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft incurs a total charge of Rs 39,600.

Where is the Sub Registrar Office for Sapthagirivasa Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.