Guideline Value for Sangareeshwari Nagar 3rd Street

Sangareeshwari Nagar 3rd Street guideline value

The current guideline value of Sangareeshwari Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Sangareeshwari Nagar 3rd Street has changed

Over the years, the guideline value of Sangareeshwari Nagar 3rd Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 478 per sq.ft, which increased to Rs 530 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 750 per sq.ft in 2007, reflecting a 42% increase. In 2012, the value jumped dramatically to Rs 3,500 per sq.ft, showing a 367% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, and the current 2024 revision has further increased it to Rs 3,850 per sq.ft, a rise of 10%.

There are no figures available for the revisions in the years not mentioned. The overall increase from 2002 to 2024 is 705%, showcasing the changes in the guideline value over the years.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the guideline value of Sangareeshwari Nagar 3rd Street below this median.

• Sangareeshwari Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sangareeshwari Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sangareeshwari Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the 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 Sangareeshwari Nagar 3rd Street?

The Sangareeshwari Nagar 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Virugambakkam. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is documented accurately according to the prevailing rates.

When a property is sold, the guideline value is compared to the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sangareeshwari Nagar 3rd Street?

The current guideline value of Sangareeshwari Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 478 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 705% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 3,46,500.

Which office handles property registration in Sangareeshwari Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sangareeshwari Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sangareeshwari Nagar 3rd Street?

Sangareeshwari Nagar 3rd Street is classified under Residential Class III Type - II, which indicates its intended use for residential purposes.