Guideline Value for Sambangi Street

Sambangi Street guideline value

The current guideline value of Sambangi Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Sambangi Street has changed

The guideline value for Sambangi Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 1,100 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Sambangi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Sambangi Street's 2024 figure is below this median.

• Sambangi Cross Street: Rs 1,320 per sq.ft (2024)
• Samrajeeya Nagar: Rs 1,650 per sq.ft (2024)
• Sakthi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Extn: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 8th st: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 7th st: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sambangi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sambangi Street?

The Sub Registrar Office that covers Sambangi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, both buyers and sellers must be aware of the guideline value, as it affects the overall costs involved in the transaction. It is advisable to consult the latest guideline values to ensure compliance with local regulations during property registration.

Frequently asked questions

What is the current guideline value of Sambangi Street?

The current guideline value of Sambangi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Peerklankaranai with their guideline values?

Other streets in Peerklankaranai include Sambangi Cross Street at Rs 1,320 per sq.ft, Samrajeeya Nagar at Rs 1,650 per sq.ft, and several streets in Sakthi Nagar at Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in Sambangi Street?

The stamp duty rate for properties in Sambangi Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sambangi Street?

The Sub Registrar Office for Sambangi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.