Guideline Value for SATAMANGALAM ERIKARAI STREET (WARD -15)

Satamangalam Erikarai Street (Ward -15) guideline value

The current guideline value of Satamangalam Erikarai Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Satamangalam Erikarai Street (Ward -15) has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. This was a reduction of 33%. The value saw a significant increase to Rs 400 per sq.ft in 2023, and then further increased by 10% to Rs 440 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, making the current value of Satamangalam Erikarai Street (Ward -15) below that median.

• Sathiyasai Nagar (N): Rs 660 per sq.ft (2024)
• Sarojammal Avenue: Rs 1,320 per sq.ft (2024)
• Sathyasai Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Sathyasai Sababathi Nagar (Ward -15): Rs 440 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,320 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Satamangalam Erikarai Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Satamangalam Erikarai Street (Ward -15)?

The Sub Registrar Office that covers Satamangalam Erikarai Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value of Satamangalam Erikarai Street (Ward -15)?

The current guideline value of Satamangalam Erikarai Street (Ward -15) 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 increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Satamangalam Erikarai Street (Ward -15)?

The land classification for Satamangalam Erikarai Street (Ward -15) is Residential Class II Type - II.

What is the median guideline value in Kattankollatur?

The median guideline value for the 453 streets in Kattankollatur under the Chengleput Joint II SRO is Rs 1,100 per sq.ft, which is above the current value of Satamangalam Erikarai Street (Ward -15).

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.