Guideline Value for SANKAR 1st STREET

SANKAR 1st STREET guideline value

The current guideline value of SANKAR 1st STREET in Enjambakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of SANKAR 1st STREET has changed

The guideline value for SANKAR 1st STREET has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 168 per sq.ft. This increased to Rs 500 per sq.ft in 2007, followed by a significant rise to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

In terms of percentage changes, the value increased by 198% from 2003 to 2007, then surged by 300% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value rose by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1210%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of SANKAR 1st STREET.

• SANKAR 2nd STREET: Rs 2,200 per sq.ft (2024)
• Sanmugasundaram Garden: Rs 2,200 per sq.ft (2024)
• Sands N Waves: Rs 7,200 per sq.ft (2024)
• Sampantham Garden: Rs 2,200 per sq.ft (2024)
• Saravana Nagar: Rs 1,700 per sq.ft (2024)
• Sai Baba Kovil Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SANKAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers SANKAR 1st STREET?

The Sub Registrar Office that covers SANKAR 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of SANKAR 1st STREET?

The current guideline value of SANKAR 1st STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 168 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for SANKAR 1st STREET?

SANKAR 1st STREET is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for SANKAR 1st STREET?

The Neelankarai Sub Registrar Office covers SANKAR 1st STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in SANKAR 1st STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.