Guideline Value for SANKAR 2nd STREET

SANKAR 2nd STREET guideline value

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

How the guideline value of SANKAR 2nd STREET has changed

The guideline value for SANKAR 2nd STREET has seen significant changes over the years. In 2003, the value was Rs 168 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, it rose dramatically to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1210%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for SANKAR 2nd STREET.

• SANKAR 1st 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 2nd 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. It is important to 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 SANKAR 2nd STREET?

The Sub Registrar Office covering SANKAR 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of SANKAR 2nd STREET?

The current guideline value of SANKAR 2nd 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 changed significantly, increasing from Rs 168 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1210% over this period.

What are the other streets with the same guideline value in Enjambakkam?

Other streets in Enjambakkam with the same guideline value of Rs 2,200 per sq.ft include SANKAR 1st STREET, Sanmugasundaram Garden, and Sampantham Garden.

What is the stamp duty rate for properties in SANKAR 2nd STREET?

The stamp duty rate for properties in SANKAR 2nd STREET is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for SANKAR 2nd STREET?

The Sub Registrar Office for SANKAR 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.