Guideline Value for Sapthagiri Nagar (Extn)

Sapthagiri Nagar (Extn) guideline value

The current guideline value of Sapthagiri Nagar (Extn) is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sapthagiri Nagar (Extn) has changed

The guideline value for Sapthagiri Nagar (Extn) has undergone several revisions over the years. In 2007, the guideline value was Rs 90 per sq.ft, which saw a significant increase to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017, before stabilizing at Rs 500 per sq.ft in both 2023 and 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while there was a substantial rise of 456% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 456%, reflecting the changes in the real estate landscape in the area.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Sapthagiri Nagar (Extn) is currently below this median value.

• Sapthagiri Nagar: Rs 500 per sq.ft (2024)
• Sakthi Vilas: Rs 600 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• Senthil Nagar-II: Rs 400 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagiri Nagar (Extn)

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthagiri Nagar (Extn)?

The Sub Registrar Office that covers Sapthagiri Nagar (Extn) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Neelamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to assess the taxes owed, ensuring that the transaction is registered at a value that reflects the current market conditions in the area.

Frequently asked questions

What is the current guideline value of Sapthagiri Nagar (Extn)?

The current guideline value of Sapthagiri Nagar (Extn) is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers this area?

The Gooduvancheri Sub Registrar Office covers Sapthagiri Nagar (Extn), located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What is the land classification for Sapthagiri Nagar (Extn)?

The land classification for Sapthagiri Nagar (Extn) is Residential Class I Type - I.