Guideline Value for Sangam Colony 1st Cross Street

Sangam Colony 1st Cross Street guideline value

The current guideline value of Sangam Colony 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Sangam Colony 1st Cross Street has seen several revisions over the years. In 2003, the value was Rs 457 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2007. The 2012 revision brought the value back to Rs 3,500 per sq.ft, but it dropped to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023 and finally reached Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 753%. The register has no figure for the year 2002 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are a total of 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Sangam Colony 1st Cross Street.

• Sangam Colony 1st 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 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sangam Colony 1st Cross Street?

The Sub Registrar Office that covers Sangam Colony 1st Cross Street is 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 of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sangam Colony 1st Cross 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, marking an overall increase of 753% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Sangam Colony 1st Cross Street?

The Adayar Sub Registrar Office handles property registrations for Sangam Colony 1st Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

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

The land classification for Sangam Colony 1st Cross Street is Residential Class II Type - I.