Guideline Value for SANKAR NAGAR

Sankar Nagar guideline value

The current guideline value of Sankar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kanchivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sankar Nagar has changed

The guideline value for Sankar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft, which has remained consistent through the 2024 revision.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Kanchivakkam

Kanchivakkam has 23 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 600 per sq.ft. The median value is Rs 500 per sq.ft, which is the same as the 2024 figure for Sankar Nagar.

• Senthil Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sterling Garden-I & II: Rs 400 per sq.ft (2024)
• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Valarmathi Garden Part-I to IV: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankar Nagar?

The Sub Registrar Office that covers Sankar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the registration process will use the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of Sankar Nagar?

The current guideline value of Sankar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017 before returning to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Sankar Nagar?

Sankar Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sankar Nagar?

The Gooduvancheri Sub Registrar Office covers Sankar Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sankar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000 at 7%.