Guideline Value for Sangam Colony 1st Street

Sangam Colony 1st Street guideline value

The current guideline value of Sangam Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Sangam Colony 1st Street has changed

The guideline value for Sangam Colony 1st Street has undergone several revisions over the years. The earliest recorded figure is Rs 457 per sq.ft in 2003, which saw a significant increase of 338% to reach Rs 2,000 per sq.ft by 2007. The value then rose by 75% to Rs 3,500 per sq.ft in 2012, but experienced a decline of 33% to Rs 2,345 per sq.ft by 2017. In 2023, the guideline value increased to Rs 3,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,900 per sq.ft, reflecting an increase of 11%.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 753%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Sangam Colony 1st Street.

• Sangam Colony 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Saminatha Nagar Antony School Lane: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 9th Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sangam Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sangam Colony 1st Street?

The Sangam Colony 1st Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency in property transactions and helps maintain a standard for property valuations in the area.

Frequently asked questions

What is the current guideline value of Sangam Colony 1st Street?

The current guideline value of Sangam Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 457 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 753% over the years.

What is the stamp duty for property in Sangam Colony 1st Street?

The stamp duty for property in Sangam Colony 1st Street is 7% of the guideline value. For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.

Where can I find the Sub Registrar Office for Sangam Colony 1st Street?

The Sub Registrar Office for Sangam Colony 1st Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Sangam Colony 1st Street?

Sangam Colony 1st Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.