Guideline Value for Sapthagiri Colony Main Road

Sapthagiri Colony Main Road guideline value

The current guideline value of Sapthagiri Colony Main Road is Rs 7,000 per sq.ft, effective from 1 July 2024. This road is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sapthagiri Colony Main Road has changed

The guideline value for Sapthagiri Colony Main Road has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, it then decreased by 33% to Rs 4,355 per sq.ft in 2017. The value rose sharply again to Rs 6,500 per sq.ft in 2023, and most recently, it has increased by 8% to Rs 7,000 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 479%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft. The guideline value of Sapthagiri Colony Main Road is above this median.

• Sapthagiri Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Sapthagiri Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Sannathi Street Block 6: Rs 6,600 per sq.ft (2024)
• Sanjay Gandhi Salai S.No.394: Rs 3,300 per sq.ft (2024)
• Sanjai Gandhi Street: Rs 3,300 per sq.ft (2024)
• Sangeetha Colony: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagiri Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sapthagiri Colony Main Road?

The Sub Registrar Office that covers Sapthagiri Colony Main Road is 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 information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sapthagiri Colony Main Road?

The current guideline value of Sapthagiri Colony Main Road is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 479% over the years.

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

For a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Which office handles registrations for Sapthagiri Colony Main Road?

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

What is the land classification for Sapthagiri Colony Main Road?

The land classification for Sapthagiri Colony Main Road is Residential Special Type - III.