Guideline Value for Sangam Apartments

Sangam Apartments guideline value

The current guideline value of Sangam Apartments in Thirumangalam village is Rs 13,200 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Mixed Type - II land.

How the guideline value of Sangam Apartments has changed

Over the years, the guideline value for Sangam Apartments has seen significant changes. In the 2007 revision, the value was Rs 2,200 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012, marking a rise of 445%. However, in 2017, the value decreased to Rs 8,040 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 12,000 per sq.ft, and the most recent 2024 revision increased it to Rs 13,200 per sq.ft, a change of 10%.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 500%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing Sangam Apartments' value above this median.

• River Side Road: Rs 3,300 per sq.ft (2024)
• Rani Anna Nagar: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 12,600 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar: Rs 4,400 per sq.ft (2024)
• Sunshine Apartments: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sangam Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty is charged at 7%, which totals Rs 9,24,000, and the registration fee at 2% amounts to Rs 2,64,000. Together, the total fees would be Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sangam Apartments?

The Sangam Apartments are covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sangam Apartments?

The current guideline value of Sangam Apartments is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, showing a significant increase of 500% over the years.

What is the median guideline value in Thirumangalam?

The median guideline value for streets in Thirumangalam is Rs 11,500 per sq.ft, with Sangam Apartments' value being above this median.

What are the stamp duty and registration fees for Sangam Apartments?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,32,00,000, leading to a stamp duty of Rs 9,24,000 and a registration fee of Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for Sangam Apartments?

The AnnaNagar Sub Registrar Office handles registrations for Sangam Apartments, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.