Guideline Value for SARANGAPANI STREET

Sarangapani Street guideline value

The current guideline value of Sarangapani Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Sarangapani Street has changed

The guideline value for Sarangapani Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft. Following this, the 2024 revision increased the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

As of 2024, the guideline value for Sarangapani Street is equal to the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO. This median value ranges from Rs 1,000 to Rs 8,800 per sq.ft.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values for various streets reflect a wide range, with the median value being Rs 2,200 per sq.ft. Sarangapani Street's 2024 figure aligns with this median.

• Saraswathi Garden: Rs 1,700 per sq.ft (2024)
• Santhosh Nagar: Rs 3,300 per sq.ft (2024)
• Santhosh Garden, Vijaya Nagar, Sai Illam: Rs 3,300 per sq.ft (2024)
• Santhosh Garden: Rs 3,300 per sq.ft (2024)
• Saravana Nagar: Rs 2,200 per sq.ft (2024)
• Sankamam Layout: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sarangapani Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value totals Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarangapani Street?

The Sarangapani Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarangapani Street?

The current guideline value of Sarangapani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sarangapani Street has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with values ranging from Rs 1,000 to Rs 8,800 per sq.ft across 754 streets.

How is stamp duty calculated for properties in Sarangapani Street?

Stamp duty for properties in Sarangapani Street is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find more details by visiting the find your SRO link.