Guideline Value for Sapthagiri Nagar

Sapthagiri Nagar guideline value

The current guideline value of Sapthagiri Nagar, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sapthagiri Nagar has changed

The guideline value for Sapthagiri Nagar has seen several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 500 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 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 carry a guideline value for 2024, all set at Rs 500 per sq.ft, with the median also at Rs 500 per sq.ft. This places Sapthagiri Nagar's 2024 figure in line with the median value.

• Sapthagiri Nagar Extn: 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

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 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?

The Sub Registrar Office that covers Sapthagiri Nagar 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 additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korukanthangal. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sapthagiri Nagar?

The current guideline value of Sapthagiri Nagar 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 160 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 is the land classification for Sapthagiri Nagar?

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

Where can I find the Sub Registrar Office for Sapthagiri Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.