Guideline Value for Sapthagirivasa Nagar II

Sapthagirivasa Nagar II guideline value

The current guideline value of Sapthagirivasa Nagar II is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sapthagirivasa Nagar II has changed

The guideline value of Sapthagirivasa Nagar II has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. From 2017 to 2023, the value rose significantly to Rs 400 per sq.ft, and the most recent revision in 2024 set it at Rs 440 per sq.ft. There are no figures recorded for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. Notably, the change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 was 49%. The revision from 2012 to 2017 saw a decrease of 33%, and the value doubled from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2012.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value of Sapthagirivasa Nagar II. Below are the guideline values for other streets in Vilangadupakkam:

• Sapthagirivasa Nagar: Rs 440 per sq.ft (2024)
• Saraswathi Nagar: Rs 550 per sq.ft (2024)
• Saravanan Nagar: Rs 550 per sq.ft (2024)
• Sangeetha Nagar: Rs 770 per sq.ft (2024)
• Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sai Avenue: Rs 747 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagirivasa Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthagirivasa Nagar II?

The Sub Registrar Office that covers Sapthagirivasa Nagar II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Vilangadupakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the government receives appropriate revenue through stamp duties and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sapthagirivasa Nagar II?

The current guideline value of Sapthagirivasa Nagar II is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting a total increase of 120% during this period.

What is the stamp duty rate for properties in Sapthagirivasa Nagar II?

The stamp duty rate for properties in Sapthagirivasa Nagar II is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sapthagirivasa Nagar II located?

The Sub Registrar Office for Sapthagirivasa Nagar II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value, which is used to calculate stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance during the registration process.