Guideline Value for Sangam Road

Sangam Road guideline value

The current guideline value of Sangam Road in Thiruneermalai village is Rs 2,420 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Sangam Road has changed

The guideline value for Sangam Road has seen significant changes over the years. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 490 per sq.ft in 2007, marking a 57% rise. The value then surged to Rs 1,474 per sq.ft in 2017, reflecting a remarkable 201% increase. Following this, the 2023 revision set the value at Rs 2,200 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised the value further to Rs 2,420 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 676%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which matches the current value of Sangam Road.

• Sakthi Nagar: Rs 2,420 per sq.ft (2024)
• Saraswathipuram 1st Main Road: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (East): Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (West): Rs 2,860 per sq.ft (2024)
• Saraswathipuram 2nd Main Road: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Sangam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total charges Rs 2,17,800. 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 accurate calculations based on your property.

Which Sub Registrar Office covers Sangam Road?

The Sangam Road falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is referenced to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps to maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sangam Road?

The current guideline value of Sangam Road is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, showing an overall increase of 676% over the years.

What are the stamp duty and registration fees for property on Sangam Road?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles the registration for Sangam Road?

The Pammal Sub Registrar Office handles registrations for Sangam Road, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value is essential for determining stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of their financial obligations when buying or selling property.