Guideline Value for Sanjay Nagar

Sanjay Nagar guideline value

The current guideline value of Sanjay Nagar, located in Perungavur village under the Redhills SRO, is Rs 275 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sanjay Nagar has changed

Over the years, the guideline value of Sanjay Nagar has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 200 per sq.ft. This figure increased to Rs 250 per sq.ft in 2012, marking a 25% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 167 per sq.ft. The subsequent revision in 2023 saw a significant increase of 50%, bringing the value up to Rs 250 per sq.ft, and the latest revision in 2024 has set the value at Rs 275 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 38%.

Guideline values in Perungavur

In Perungavur, there are a total of 79 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 220 to Rs 1,500 per sq.ft. The median value across these streets is Rs 275 per sq.ft, which is equal to the current guideline value of Sanjay Nagar.

• Sakthi Nagar: Rs 220 per sq.ft (2024)
• Sastha Nagar: Rs 220 per sq.ft (2024)
• Sastha Nagar Phase I & II: Rs 220 per sq.ft (2024)
• Senthil Nagar: Rs 275 per sq.ft (2024)
• Senthil Nagar Part-I: Rs 275 per sq.ft (2024)
• Senthil Nagar Part-II: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, making the total fees together Rs 24,750. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sanjay Nagar?

The Sub Registrar Office that covers Sanjay Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Perungavur. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sanjay Nagar?

The current guideline value of Sanjay Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 275 per sq.ft in 2024. Notable changes include a decrease to Rs 167 per sq.ft in 2017 and an increase to Rs 250 per sq.ft in 2023.

What are the guideline values of other streets in Perungavur?

Other streets in Perungavur have varying guideline values, with rates ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 275 per sq.ft.

What are the stamp duty and registration fees for properties in Sanjay Nagar?

For a property valued at Rs 2,75,000, the stamp duty would be Rs 19,250 and the registration fee would be Rs 5,500, totaling Rs 24,750. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sanjay Nagar?

The Redhills Sub Registrar Office handles registrations for Sanjay Nagar. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.