Guideline Value for Sapthagiri Nagar

Sapthagiri Nagar guideline value

The current guideline value of Sapthagiri Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

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 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Between the years 2017 and 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sapthagiri Nagar is below this median.

• Santhosh Nagar: Rs 1,320 per sq.ft (2024)
• Santhanam Avenue: Rs 3,800 per sq.ft (2024)
• Sathya Sai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• School Street: Rs 1,320 per sq.ft (2024)
• Seliamman Koil Street: Rs 3,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the 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?

The Sub Registrar Office that covers Sapthagiri Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Tambaram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sapthagiri Nagar?

The current guideline value of Sapthagiri Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Sapthagiri Nagar?

Sapthagiri Nagar is classified as Residential Class I Type - II.

Which Sub Registrar Office covers Sapthagiri Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Sapthagiri Nagar, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is stamp duty calculated in Sapthagiri Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.