Guideline Value for SANKAR NAGAR MAIN ROAD

Sankar Nagar Main Road guideline value

The current guideline value of Sankar Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Sankar Nagar Main Road has changed

The guideline value for Sankar Nagar Main Road has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 3,850 per sq.ft, which is a rise of 64%. Overall, from 2012 to 2024, there has been a modest increase of 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Sankar Nagar Main Road above this median.

• Sankar Nagar 1 To 3 Streets: Rs 3,850 per sq.ft (2024)
• Sankar Nagar: Rs 3,850 per sq.ft (2024)
• Sannathi Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sanjai Gandhi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sankar Nagar Main Road?

The Sub Registrar Office that covers Sankar Nagar Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the transaction is legally recognized.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This helps maintain transparency in property transactions and ensures that the government collects the appropriate taxes.

Frequently asked questions

What is the current guideline value of Sankar Nagar Main Road?

The current guideline value of Sankar Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for Sankar Nagar Main Road?

The land classification for Sankar Nagar Main Road is Mixed Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Sankar Nagar Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Sankar Nagar Main Road?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.