Guideline Value for saththirapathy sivaji 1st street sanmugam nagar

Saththirapathy Sivaji 1st Street Sanmugam Nagar guideline value

The current guideline value of Saththirapathy Sivaji 1st 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 Saththirapathy Sivaji 1st Street Sanmugam Nagar has changed

The guideline value for Saththirapathy Sivaji 1st Street Sanmugam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a net increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Saththirapathy Sivaji 1st Street Sanmugam Nagar.

• Saththapathy Sivaji 2nd 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 Saththirapathy Sivaji 1st 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 amounts to 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 fees to Rs 1,48,500. Please note that the 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 Saththirapathy Sivaji 1st Street Sanmugam Nagar?

The Saththirapathy Sivaji 1st 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. 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 in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. The registration office will charge the duty based on the higher amount between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saththirapathy Sivaji 1st Street Sanmugam Nagar?

The current guideline value of Saththirapathy Sivaji 1st 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 1,005 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 other streets in Chitlapakkam with the same guideline value?

Other streets in Chitlapakkam with a guideline value of Rs 1,650 per sq.ft include Saththapathy Sivaji 2nd Street Sanmugam Nagar, Sathrapathi Sivaji Street, Sathrapathi Sivaji Cross Street, and Sathiyavani Muthu Street.

What are the registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500 and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.