Guideline Value for SANKARACHARIAR STREET

Sankarachariar Street guideline value

The current guideline value of Sankarachariar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Sankarachariar Street has changed

The guideline value for Sankarachariar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 511 per sq.ft. This increased to Rs 728 per sq.ft in 2003, marking a 42% rise. By 2007, the value saw a significant jump to Rs 800 per sq.ft, which was a 10% increase. The value then surged to Rs 3,500 per sq.ft in 2012, representing a substantial 338% increase. However, in 2017, it dropped to Rs 2,345 per sq.ft, showing a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 644%. There are no figures available in the register for the years not mentioned in this summary.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Sankarachariar Street's 2024 figure of Rs 3,800 per sq.ft is above this median.

• Sanjai Nagar 1st To 30 Street: Rs 3,800 per sq.ft (2024)
• Santhi Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony 2nd Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony Streets: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 1st Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarachariar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankarachariar Street?

The Sub Registrar Office that covers Sankarachariar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the amount of stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sankarachariar Street?

The current guideline value of Sankarachariar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 511 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 644% over this period.

What is the land classification for Sankarachariar Street?

Sankarachariar Street falls under the Residential Class II Type - II land classification.

Where can I find the Sub Registrar Office for Sankarachariar Street?

The Purasaivakkam Sub Registrar Office, which covers Sankarachariar Street, is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties on Sankarachariar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,66,000.