Guideline Value for Sagaya Avenue

Sagaya Avenue guideline value

The current guideline value of Sagaya Avenue is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sagaya Avenue has changed

The guideline value for Sagaya Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 600 per sq.ft in 2023. The current 2024 revision also maintains this rate, showing no change from the previous year.

It is important to note that the guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions with recorded values are from 2012, 2017, 2023, and the current 2024 revision.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value for these streets is Rs 605 per sq.ft, which means that Sagaya Avenue's 2024 figure is below this median.

• R.B.S Nagar: Rs 600 per sq.ft (2024)
• Ramar Kovil street: Rs 605 per sq.ft (2024)
• Rajiv Ideal Farms: Rs 605 per sq.ft (2024)
• Rajiv Gandhi Virpannai Koodam: Rs 600 per sq.ft (2024)
• Small Street: Rs 605 per sq.ft (2024)
• Ponniamman Kovil Street(Thirumangalam Madura Kandigai): Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sagaya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, leading to a total of Rs 54,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sagaya Avenue?

The Sub Registrar Office that covers Sagaya Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirumangalam. 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 guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sagaya Avenue?

The current guideline value of Sagaya Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024. It remained at Rs 600 per sq.ft from 2012 to 2017, increased to Rs 600 in 2023, and has not changed in 2024.

What are the other streets in Thirumangalam with guideline values?

There are several other streets in Thirumangalam, with values ranging from Rs 250 to Rs 2,000 per sq.ft. Notable streets include R.B.S Nagar and Ramar Kovil street, with values of Rs 600 and Rs 605 per sq.ft respectively.

What is the stamp duty rate for properties in Sagaya Avenue?

The stamp duty rate for properties in Sagaya Avenue is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000.

Where is the Sub Registrar Office for Sagaya Avenue located?

The Sub Registrar Office for Sagaya Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.