Guideline Value for Sangara Madam Street

Sangara Madam Street guideline value

The current guideline value of Sangara Madam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sangara Madam Street has changed

Over the years, the guideline value of Sangara Madam Street has seen several revisions. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased to Rs 2,000 per sq.ft in 2012, reflecting a 100% rise. However, the value decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, followed by a 10% increase to the current value of Rs 2,200 per sq.ft in 2024.

There are no figures available for Sangara Madam Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median value of Rs 1,900 per sq.ft. Sangara Madam Street's 2024 guideline value is above this median.

• Sadaiyappa Doss Street: Rs 2,200 per sq.ft (2024)
• Sabapathy Street: Rs 2,200 per sq.ft (2024)
• Semathammal Santhu: Rs 1,900 per sq.ft (2024)
• Rangasaee Street: Rs 3,900 per sq.ft (2024)
• Rangasaee Naidu Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu 1st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sangara Madam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Sangara Madam Street?

The Sub Registrar Office that covers Sangara Madam Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the property is valued fairly according to government standards.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sangara Madam Street?

The current guideline value of Sangara Madam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would be Rs 1,98,000, based on the guideline value of Rs 22,00,000.

Which Sub Registrar Office covers Sangara Madam Street?

The Sembiam Sub Registrar Office covers Sangara Madam Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Sangara Madam Street?

Sangara Madam Street is classified as Residential Class II Type - II, indicating its suitability for residential development.