Guideline Value for Sangam Colony 2nd Street

Sangam Colony 2nd Street guideline value

The current guideline value for Sangam Colony 2nd 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 is classified as Residential Class II Type - I.

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

The guideline value for Sangam Colony 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,000 per sq.ft in 2007, and it further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024.

Between these revisions, notable changes include an increase of 338% from 2002 to 2007, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 916%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Sangam Colony 2nd Street.

• Sangam Colony 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sangam Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Sangam Colony 1st Cross Street: Rs 3,900 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 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, bringing the total to 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sangam Colony 2nd Street?

The Sub Registrar Office that covers Sangam Colony 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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 determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and based on established values.

Frequently asked questions

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

The current guideline value for Sangam Colony 2nd 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 seen several revisions, with the most recent increase from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, reflecting an 11% rise.

What is the land classification for Sangam Colony 2nd Street?

Sangam Colony 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.