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. This area is located in Korukanthangal village, falling under the Gooduvancheri SRO. The land classification for this region is Residential Special 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. Starting from the 2007 revision, the value was Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then decreased to Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 500 per sq.ft, and the current 2024 revision also holds the same value, resulting in no percentage change from 2023 to 2024.

From 2017 to 2023, there was a notable increase of 49%. The value saw a remarkable rise of 213% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 213%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value of Sapthagiri Nagar Extn is equal to this median.

• Sapthagiri Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)
• Sri Gayathri Dr.City Phase-II & V: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Subramaniya Nagar: Rs 500 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, making the total cost for stamp duty and registration fees Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When you register a property, the duty is charged based on the higher of the guideline value or the sale price. This ensures that the registration reflects the accurate value of the property being transferred.

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 July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 160 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft from 2023 to 2024.

What is the land classification for Sapthagiri Nagar Extn?

The land classification for Sapthagiri Nagar Extn is Residential Special Type - I, indicating its designation for residential use.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sapthagiri Nagar Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%, along with a registration fee of Rs 10,000 at 2%.