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 Ninna Karai 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

Looking at the revisions over the years, the guideline value for Satamangalam Erikarai Street has seen several changes. In 2012, the guideline value was Rs 400 per sq.ft. This figure remained the same until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, by the 2023 revision, the value increased significantly to Rs 400 per sq.ft, and then it rose again to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 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 Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value in this village is Rs 1,100 per sq.ft, placing Satamangalam Erikarai Street's 2024 figure below that median.

• Sathiyasai Nagar (N): Rs 660 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 1,321 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Sattamangalam (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, while the registration fee at 2% would be Rs 8,800. Together, the total cost for these fees would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable on property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential for buyers to be informed about the guideline value to avoid any unexpected costs during the buying process.

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 for Satamangalam Erikarai Street?

Satamangalam Erikarai Street is classified as Residential Class II Type - II.

Which Sub Registrar Office covers this area?

The Chengleput Joint II Sub Registrar Office covers Satamangalam Erikarai Street (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,40,000, the stamp duty would be calculated at 7% of that value.