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 550 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor 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 for Satamangalam Erikarai Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 500 per sq.ft. In 2017, it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, by 2023, the value increased significantly to Rs 500 per sq.ft, and the latest revision in 2024 set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 500 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10% from the initial Rs 500 per sq.ft in 2012 to Rs 550 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are a total of 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Satamangalam Erikarai Street (Ward -15) is below the median.

• Sathiyasai Nagar (N): Rs 661 per sq.ft (2024)
• Sathyasai Nagar (Ward -15): Rs 661 per sq.ft (2024)
• Sathyasai Sababathi Nagar (Ward -15): Rs 550 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,320 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 550 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost together to Rs 49,500. 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures 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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, with the most recent revision in 2024 increasing it to Rs 550 per sq.ft from Rs 500 per sq.ft in 2023. The overall change from 2012 to 2024 is an increase of 10%.

What are the other streets in Peramanoor with similar guideline values?

Other streets in Peramanoor with similar guideline values include Sathyasai Sababathi Nagar and Sattamangalam, both at Rs 550 per sq.ft in 2024. Sathiyasai Nagar (N) and Sathyasai Nagar (Ward -15) have higher values at Rs 661 per sq.ft.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Satamangalam Erikarai Street (Ward -15)?

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