Guideline Value for sanmuganathan street

Sanmuganathan Street guideline value

The current guideline value of Sanmuganathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Sanmuganathan Street has changed

The guideline value for Sanmuganathan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a 10% increase, with the latest revision reflecting a 10% rise from the previous year.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Sanmuganathan Street.

• Sankar Street: Rs 1,650 per sq.ft (2024)
• Sankaranarayanan Street: Rs 3,300 per sq.ft (2024)
• Santhiran Street(Santhiran Avenue): Rs 1,650 per sq.ft (2024)
• Sangam Street: Rs 1,650 per sq.ft (2024)
• Sapthagiri Street: Rs 1,650 per sq.ft (2024)
• Saradha Avenue 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sanmuganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sanmuganathan Street?

The Sub Registrar Office that covers Sanmuganathan Street 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 information.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees during the property registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the transaction is recorded accurately and fairly in the official records.

Frequently asked questions

What is the current guideline value of Sanmuganathan Street?

The current guideline value of Sanmuganathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Sanmuganathan Street?

For a 1,000 sq.ft property, the total guideline value is Rs 16,50,000, resulting in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Sanmuganathan Street?

The Tambaram Joint 1 Sub Registrar Office covers Sanmuganathan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for ensuring that the property is accurately valued for legal and tax purposes.