Guideline Value for saththapathy sivaji 2nd street sanmugam nagar

Saththapathy Sivaji 2nd Street Sanmugam Nagar guideline value

The current guideline value of Saththapathy Sivaji 2nd Street Sanmugam Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Saththapathy Sivaji 2nd Street Sanmugam Nagar has changed

Over the years, the guideline value for Saththapathy Sivaji 2nd Street Sanmugam Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. However, the 2023 revision increased it to Rs 1,500 per sq.ft, and the current 2024 revision has further raised it to Rs 1,650 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it increased by 49% from 2017 to 2023. The overall change from the 2012 revision to the 2024 revision is a 10% increase, reflecting the current guideline value of Rs 1,650 per sq.ft, which matches the median value for the village.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Saththapathy Sivaji 2nd Street Sanmugam Nagar. Below are the guideline values for other streets in Chitlapakkam:

• Saththirapathy Sivaji 1st Street Sanmugam Nagar: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Street: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Cross Street: Rs 1,650 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 1,650 per sq.ft (2024)
• Sathiya Muthu Street: Rs 1,320 per sq.ft (2024)
• Savitha Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Saththapathy Sivaji 2nd Street Sanmugam Nagar

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 amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saththapathy Sivaji 2nd Street Sanmugam Nagar?

The Saththapathy Sivaji 2nd Street Sanmugam Nagar falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the stamp duty and registration fees payable. This value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Saththapathy Sivaji 2nd Street Sanmugam Nagar?

The current guideline value of Saththapathy Sivaji 2nd Street Sanmugam Nagar 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 1,650 per sq.ft in 2024, with several revisions in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current guideline value for Saththapathy Sivaji 2nd Street Sanmugam Nagar.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,48,500.

Which office handles property registrations for this street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Saththapathy Sivaji 2nd Street Sanmugam Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.