Guideline Value for Sangam Colony 2nd Cross Street

Sangam Colony 2nd Cross Street guideline value

The current guideline value of Sangam Colony 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sangam Colony 2nd Cross Street has changed

The guideline value for Sangam Colony 2nd Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 384 per sq.ft. This increased significantly to Rs 457 per sq.ft in 2003, marking a change of +19%. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, which represented a substantial increase of +338%. By 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a growth of +75% from the previous revision. However, the value decreased by -33% to Rs 2,345 per sq.ft in 2017.

In 2023, the guideline value increased to Rs 3,500 per sq.ft, and then it rose again to Rs 3,900 per sq.ft in 2024, showing an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +916%. There are no figures available for the revisions in years other than those listed.

Guideline values in Kottivakkam

Kottivakkam village has 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 2024 figure for Sangam Colony 2nd Cross Street.

• Sangam Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 1st Cross 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 39,00,000. The stamp duty is calculated at 7%, resulting in Rs 2,73,000, while the registration fee is charged at 2%, amounting to Rs 78,000. Together, the total cost for stamp duty and registration fee is Rs 3,51,000. Please 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 more details.

Which Sub Registrar Office covers Sangam Colony 2nd Cross Street?

The Sub Registrar Office that covers Sangam Colony 2nd 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 reference point used during the registration of property transactions in Kottivakkam. It helps determine the stamp duty and registration fees applicable to a property, ensuring that these costs are calculated based on the established rates.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sangam Colony 2nd Cross Street?

The current guideline value of Sangam Colony 2nd 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 significantly over the years, starting from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +916%.

What is the stamp duty rate for properties in Sangam Colony 2nd Cross Street?

The stamp duty rate for properties in Sangam Colony 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark that helps ensure transparency and consistency in property dealings.