Guideline Value for V.O.SITHAMPARANAR SALAI (WARD -8)

V.O.Sithamparanar Salai (Ward -8) guideline value

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of V.O.Sithamparanar Salai (Ward -8) has changed

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% rise from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing V.O.Sithamparanar Salai (Ward -8) above this median.

• V.O.C Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 550 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 1,100 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Yerikkarai Street (Ward -3): Rs 990 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.Sithamparanar Salai (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. 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 information.

Which Sub Registrar Office covers V.O.Sithamparanar Salai (Ward -8)?

The Sub Registrar Office covering V.O.Sithamparanar Salai (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor during property registration in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of V.O.Sithamparanar Salai (Ward -8)?

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 1,600 per sq.ft in 2012, decreased to Rs 1,072 per sq.ft in 2017, increased to Rs 1,600 per sq.ft in 2023, and is now Rs 1,760 per sq.ft in 2024.

What is the land classification for V.O.Sithamparanar Salai?

V.O.Sithamparanar Salai (Ward -8) is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 1,58,400 in fees.

Which office handles registrations for properties in this area?

The Chengleput Joint II Sub Registrar Office handles registrations for properties in V.O.Sithamparanar Salai (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.