Guideline Value for Sapather hashmi Nagar

Sapather hashmi Nagar guideline value

The current guideline value for Sapather hashmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village, under the jurisdiction of the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sapather hashmi Nagar has changed

Since the early 2000s, the guideline value for Sapather hashmi Nagar has seen significant changes. In 2003, the guideline value was Rs 65 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was a substantial rise of 362%. The value then changed to Rs 500 per sq.ft in 2012, reflecting an increase of 67%. However, it dropped to Rs 335 per sq.ft in 2017, marking a decrease of 33%. The guideline value increased again to Rs 500 per sq.ft in 2023, followed by a rise to the current value of Rs 550 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 746%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Rs 550 per sq.ft for Sapather hashmi Nagar is below this median.

• Sapthalakshmi Nagar: Rs 550 per sq.ft (2024)
• Santhi Colony: Rs 440 per sq.ft (2024)
• Rpd Village: Rs 1,100 per sq.ft (2024)
• Sivasakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Dhanalakshmi Avenue: Rs 770 per sq.ft (2024)
• Sri Murugan Nagar: Rs 735 per sq.ft (2024)

Stamp duty and registration fee for property in Sapather hashmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that 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 Sapather hashmi Nagar?

The Sub Registrar Office that covers Sapather hashmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

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

When buying or selling property, both the buyer and seller must consider the guideline value to understand the fees involved and ensure compliance with local regulations. The guideline value helps in establishing a fair transaction process and is essential for legal documentation.

Frequently asked questions

What is the current guideline value of Sapather hashmi Nagar?

The current guideline value of Sapather hashmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 746% over this period.

What is the land classification for Sapather hashmi Nagar?

The land classification for Sapather hashmi Nagar is Residential Class II Type - I.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 49,500, based on the guideline value of Rs 5,50,000.

Which office handles registrations for Sapather hashmi Nagar?

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