Guideline Value for SARANGAPANI STREET

Sarangapani Street guideline value

The current guideline value of Sarangapani Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Sarangapani Street has changed

Over the years, the guideline value of Sarangapani Street has seen significant changes. The earliest recorded figure is from 2003, which was Rs 1,801 per sq.ft. This value increased to Rs 4,298 per sq.ft in 2007, marking a rise of 139%. The value then surged to Rs 13,000 per sq.ft in 2012, a remarkable increase of 202%. However, it dropped to Rs 8,710 per sq.ft in 2017, reflecting a decline of 33%. The value then rose sharply to Rs 13,000 per sq.ft in 2023, followed by a further increase to Rs 14,300 per sq.ft in 2024, which is a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 694%. It is important to note that the register has no figure for Sarangapani Street for the year 2002.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Sarangapani Street's 2024 figure of Rs 14,300 per sq.ft is above this median.

• Saradambal Street: Rs 11,000 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sambandam Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sarangapani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Sarangapani Street?

The Sub Registrar Office that covers Sarangapani Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the regulations set by the Registration Department.

When a property is registered, the guideline value acts as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty will be charged based on the sale price. Conversely, if the sale price is lower, the duty will be calculated on the guideline value.

Frequently asked questions

What is the current guideline value of Sarangapani Street?

The current guideline value of Sarangapani Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,801 per sq.ft in 2003 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 694% over the years.

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

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

Which Sub Registrar Office covers Sarangapani Street?

The Thiyagaraya nagar Sub Registrar Office covers Sarangapani Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification of Sarangapani Street?

Sarangapani Street is classified as Mixed Special Type - I according to the registration guidelines.