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 Panangottur 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

Over the years, the guideline value for Satamangalam Erikarai Street has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 400 per sq.ft in the 2023 revision, before reaching the current rate of Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 to 2023 revision, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing the 2024 figure for Satamangalam Erikarai Street below this 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 1,320 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 amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of 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 details, 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Panangottur, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers must consider this value to ensure they are compliant with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark to assess the transaction value. If the sale price exceeds the guideline value, the stamp duty will be charged on the higher amount, ensuring that the government receives the appropriate 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 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.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles registrations for this street?

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