Guideline Value for SANKARACHARIYAR NAGAR

Sankarachariyar Nagar guideline value

The current guideline value of Sankarachariyar Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Special Type - II.

How the guideline value of Sankarachariyar Nagar has changed

Since the 2012 revision, the guideline value for Sankarachariyar Nagar has seen various changes. The figures are as follows: in 2012, the value was Rs 350 per sq.ft; in 2017, it decreased to Rs 234 per sq.ft, a drop of 33%. However, in 2023, it returned to Rs 350 per sq.ft, remaining the same in the 2024 revision.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 350 per sq.ft. Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value is Rs 250 per sq.ft, and Sankarachariyar Nagar's 2024 figure of Rs 350 per sq.ft is above this median.

• Sakthi Garden: Rs 1,201 per sq.ft (2024)
• Sai Sundaram Nagar: Rs 226 per sq.ft (2024)
• Sai Santhosh Nagar: Rs 226 per sq.ft (2024)
• Sai Nagar: Rs 300 per sq.ft (2024)
• Rp Nagar: Rs 250 per sq.ft (2024)
• Shanmugam Nagar: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarachariyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sankarachariyar Nagar?

The Sub Registrar Office that covers Sankarachariyar Nagar is the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role during the registration of property transactions in Kizhnallathur & Melnallathur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, it is essential to consider the guideline value as it ensures that the transaction is recorded at a fair value, as determined by the local authorities. This helps maintain transparency and compliance with the regulatory framework governing real estate transactions.

Frequently asked questions

What is the current guideline value of Sankarachariyar Nagar?

The current guideline value of Sankarachariyar Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then back to Rs 350 per sq.ft in 2023 and remaining the same in 2024. The revisions for 2002, 2003, and 2007 have no figures recorded for this street.

What is the median guideline value in Kizhnallathur & Melnallathur?

The median guideline value in Kizhnallathur & Melnallathur is Rs 250 per sq.ft, with Sankarachariyar Nagar's value of Rs 350 per sq.ft being above this median.

What are the stamp duty and registration fees for property in Sankarachariyar Nagar?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sankarachariyar Nagar located?

The Sub Registrar Office covering Sankarachariyar Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.