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 Sattamangalam village, under the Chengleput Joint II SRO, classified as 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 2012 revision recorded a guideline value of Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 440 per sq.ft, reflecting a 10% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Satamangalam Erikarai Street (Ward -15) is 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, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office covering 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 Sattamangalam

The guideline value is an essential factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated fairly based on this value.

When buying or selling property, the guideline value helps protect both buyers and sellers by providing a clear framework for property valuation. It is crucial for parties involved to be aware of the current guideline value to avoid any discrepancies during the registration 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 of Satamangalam Erikarai Street (Ward -15)?

Satamangalam Erikarai Street (Ward -15) 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 Satamangalam Erikarai Street (Ward -15)?

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