Guideline Value for Sarvamangala Nagar

Sarvamangala Nagar guideline value

The current guideline value of Sarvamangala Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sarvamangala Nagar has changed

The guideline value for Sarvamangala Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 30 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a substantial rise of 567%. However, the value then decreased to Rs 134 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value saw a notable increase of 49%, bringing it back to Rs 200 per sq.ft, which remained unchanged in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for Sarvamangala Nagar. Overall, from 2007 to 2024, the guideline value has increased by 567%, reflecting the fluctuations in property valuation over the years.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with the median being Rs 200 per sq.ft. The guideline value for Sarvamangala Nagar is equal to this median.

• School Street: Rs 350 per sq.ft (2024)
• Royal Town Phase 2: Rs 350 per sq.ft (2024)
• Royal Town Phase 1: Rs 350 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Real Value Nagar Phase 3: Rs 350 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sarvamangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sarvamangala Nagar?

The Sub Registrar Office that covers Sarvamangala Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Amarampedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which must be paid at the time of registration to complete the transaction legally.

Frequently asked questions

What is the current guideline value of Sarvamangala Nagar?

The current guideline value of Sarvamangala Nagar is Rs 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 30 per sq.ft in 2007 to Rs 200 per sq.ft in 2024, with various fluctuations in between, including a decrease to Rs 134 per sq.ft in 2017.

What is the land classification for Sarvamangala Nagar?

The land classification for Sarvamangala Nagar is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

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

The Sub Registrar Office for Sarvamangala Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.