Guideline Value for SARANGAPANI STREET/ SALAI

Sarangapani Street/ Salai guideline value

The current guideline value of Sarangapani Street/ Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sarangapani Street/ Salai has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has seen the guideline value increase to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Sarangapani Street/ Salai in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sivabootham

Sivabootham village has a total of 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sarangapani Street/ Salai above that median with its current guideline value.

• Sivapootham 1st Street: Rs 1,650 per sq.ft (2024)
• Sivapootha Medu: Rs 1,650 per sq.ft (2024)
• Raja Naikar Street: Rs 1,650 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Poonamalle High Way: Rs 3,300 per sq.ft (2024)
• Pilliyar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sarangapani Street/ Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarangapani Street/ Salai?

The Sub Registrar Office covering Sarangapani Street/ Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sivabootham. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official value set by the registration department.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sarangapani Street/ Salai?

The current guideline value of Sarangapani Street/ Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Sivabootham and their guideline values?

Other streets in Sivabootham include Sivapootham 1st Street, Sivapootha Medu, Raja Naikar Street, Sri Lakshmi Nagar, Poonamalle High Way, and Pilliyar Koil Street, with values ranging from Rs 1,210 to Rs 3,300 per sq.ft in 2024.

What is the stamp duty rate for properties in Sarangapani Street/ Salai?

The stamp duty rate for properties in Sarangapani Street/ Salai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sarangapani Street/ Salai?

The Sub Registrar Office for Sarangapani Street/ Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.