Guideline Value for Sangamithra Avenue

Sangamithra Avenue guideline value

The current guideline value of Sangamithra Avenue in Chikkarayapuram village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Kunrathur SRO and is classified as Mixed Special Type - I.

How the guideline value of Sangamithra Avenue has changed

The guideline value for Sangamithra Avenue has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased significantly to Rs 1,400 per sq.ft in 2012. However, this value then decreased to Rs 938 per sq.ft in 2017. Following this, the guideline value rose sharply to Rs 1,800 per sq.ft in 2023, and it has further increased to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The revisions for the years 2002 and 2003 do not have figures recorded for Sangamithra Avenue in the register.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is the same as the current value for Sangamithra Avenue.

• Sarasvathi Nagar: Rs 1,430 per sq.ft (2024)
• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• R.K.M. Nagar: Rs 1,980 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• Sivasakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sivasakthi Nagar Annex: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sangamithra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would amount to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sangamithra Avenue?

The Sub Registrar Office that covers Sangamithra Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is an important factor during the registration of property transactions in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value as it influences the overall transaction cost. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sangamithra Avenue?

The current guideline value of Sangamithra Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with significant fluctuations in between, including a decrease in 2017 and a sharp increase in recent years.

What is the classification of land in Sangamithra Avenue?

Sangamithra Avenue is classified as Mixed Special Type - I under the land classification system.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. It is the office responsible for property registrations in this area.