Guideline Value for SARVAMANGALA NAGAR

Sarvamangala Nagar guideline value

The current guideline value of Sarvamangala Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Kattupakkam village under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Sarvamangala Nagar has changed

The guideline value for Sarvamangala Nagar has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 268 per sq.ft. This figure increased to Rs 400 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of 49% from 2017 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, the guideline value remained unchanged at Rs 400 per sq.ft, indicating a 0% change. Overall, from the 2017 revision to the current 2024 figure, the guideline value has increased by 49%.

Guideline values in Kattupakkam

In Kattupakkam, there are 27 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Sarvamangala Nagar's 2024 figure below this median.

• Selvi Nagar: Rs 672 per sq.ft (2024)
• Selvi Nagar Phase - II: Rs 672 per sq.ft (2024)
• Selvi Nagar Phase- III: Rs 800 per sq.ft (2024)
• Sivaji Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Rajeswari Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarvamangala 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, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the 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 Sarvamangala Nagar?

The Sarvamangala Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value for their property, as it directly impacts the costs associated with the registration process. Understanding this value helps in making informed decisions during property transactions in Kattupakkam.

Frequently asked questions

What is the current guideline value of Sarvamangala Nagar?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024, marking a total increase of 49% over this period.

What is the median guideline value for streets in Kattupakkam?

The median guideline value for the 27 streets in Kattupakkam under the Gooduvancheri SRO is Rs 500 per sq.ft, with Sarvamangala Nagar's value being below this median.

What fees are associated with property registration in Sarvamangala Nagar?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000.

Where can I find the Sub Registrar Office for Sarvamangala Nagar?

The Gooduvancheri Sub Registrar Office covers Sarvamangala Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.