Guideline Value for Sangam Street

Sangam Street guideline value

The current guideline value of Sangam Street, located in Chitlapakkam village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Sangam Street has changed

The guideline value for Sangam Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The latest revision in 2024 sees the guideline value rise to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Sangam Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Sangam Street.

• Sankaranarayanan Street: Rs 3,300 per sq.ft (2024)
• Sankar Street: Rs 1,650 per sq.ft (2024)
• Sanmuganathan Street: Rs 1,650 per sq.ft (2024)
• SalaioraVasikal St: Rs 1,650 per sq.ft (2024)
• Santhiran Street (Santhiran Avenue): Rs 1,650 per sq.ft (2024)
• Sapthagiri Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sangam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees amount to Rs 1,48,500. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Sangam Street?

The Sub Registrar Office that covers Sangam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This ensures that both parties are informed and can plan their finances accordingly during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sangam Street?

The current guideline value of Sangam Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What classification does Sangam Street fall under?

Sangam Street is classified as Residential Class I Type - III according to the land classification standards.

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

The Sub Registrar Office for Sangam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.