Guideline Value for Sangeetha Colony

Sangeetha Colony guideline value

The current guideline value of Sangeetha Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - II.

How the guideline value of Sangeetha Colony has changed

The guideline value for Sangeetha Colony has undergone several revisions over the years. In 2007, the value was Rs 3,020 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it then decreased to Rs 4,690 per sq.ft in 2017. The value saw a substantial rise to Rs 7,000 per sq.ft in 2023, and it has now reached Rs 7,700 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 155%. The revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Sangeetha Colony is above this median.

• Sangaralinganar Street S.No. 400/B, 406/B: Rs 3,300 per sq.ft (2024)
• Sanjai Gandhi Street: Rs 3,300 per sq.ft (2024)
• Sanjay Gandhi Salai S.No.394: Rs 3,300 per sq.ft (2024)
• Samiyar Thottam Street: Rs 7,000 per sq.ft (2024)
• Sannathi Street Block 6: Rs 6,600 per sq.ft (2024)
• Samburna Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sangeetha Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sangeetha Colony?

The Sangeetha Colony is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Kodambakkam. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sangeetha Colony?

The current guideline value of Sangeetha Colony is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,020 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 155% over the years.

What are the other guideline values in Kodambakkam?

The guideline values in Kodambakkam range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft.

What is the stamp duty rate for properties in Sangeetha Colony?

The stamp duty rate for properties in Sangeetha Colony is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Sangeetha Colony?

The Ashok Nagar Sub Registrar Office handles property registrations for Sangeetha Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.