Guideline Value for Sangampalli Street

Sangampalli Street guideline value

The current guideline value of Sangampalli Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village and falls under the Ambattur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sangampalli Street has changed

The guideline value for Sangampalli Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value saw a significant increase, rising by 87% to reach Rs 1,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,001 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Sangampalli Street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Sangampalli Street's 2024 figure slightly below the median.

• Santhi Street: Rs 1,000 per sq.ft (2024)
• Sasthiri Street: Rs 1,300 per sq.ft (2024)
• Sathia Narayana Street (7th Ward): Rs 1,700 per sq.ft (2024)
• Sabari Nagar(Sabari Iyappan nagar): Rs 1,003 per sq.ft (2024)
• SathyaNarayana Rao Street (6th Ward): Rs 1,700 per sq.ft (2024)
• School Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sangampalli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. 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 further calculations.

Which Sub Registrar Office covers Sangampalli Street?

The Sub Registrar Office that covers Sangampalli Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Menambedu. It helps determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated costs.

When registering a property, the guideline value is used to assess the transaction value for taxation purposes. It ensures that the government receives the appropriate revenue from property transactions, reflecting the legal value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sangampalli Street?

The current guideline value of Sangampalli Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, showing an overall increase of 25% over this period.

What are the registration fees for property in Sangampalli Street?

The registration fees for a property in Sangampalli Street would include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Sangampalli Street?

The Ambattur Sub Registrar Office handles the registration for Sangampalli Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Sangampalli Street?

The land classification for Sangampalli Street is Residential Class IV Type - I, which indicates the type of residential development permitted in the area.