Guideline Value for Sangothiamman Koil Street

Sangothiamman Koil Street guideline value

The current guideline value of Sangothiamman Koil Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sangothiamman Koil Street has changed

Looking at the historical revisions, the guideline value for Sangothiamman Koil Street has changed significantly over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 49%, bringing it to Rs 400 per sq.ft. The most recent 2024 revision has increased the guideline value to Rs 440 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Sangothiamman Koil Street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value in this area is Rs 770 per sq.ft, making the 2024 figure for Sangothiamman Koil Street below that median.

• Shiridi Sai Nagar/Avenue: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar Third Main Road: Rs 440 per sq.ft (2024)
• Sivan Koil Street: Rs 440 per sq.ft (2024)
• Rajiv gandhi 3rd Main Road: Rs 550 per sq.ft (2024)
• Rajiv Gandhi 2nd street: Rs 550 per sq.ft (2024)
• Rajiv gandhi 2nd Main Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sangothiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sangothiamman Koil Street?

The Sub Registrar Office that covers Sangothiamman Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Vengambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial aspects of property transactions. Understanding the current guideline value helps in budgeting for additional costs associated with buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Sangothiamman Koil Street?

The current guideline value of Sangothiamman Koil Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 400 per sq.ft in 2012, dropping to Rs 268 per sq.ft in 2017, and then increasing to Rs 400 per sq.ft in 2023. The latest revision in 2024 has raised it to Rs 440 per sq.ft.

What is the land classification for Sangothiamman Koil Street?

The land classification for Sangothiamman Koil Street is Residential Class I Type - III, which indicates its suitability for residential purposes.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sangothiamman Koil Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles the registration of property transactions for the area.