Guideline Value for SANKARANDAS STREET (WARD -7)

Sankarandas Street (Ward -7) guideline value

The current guideline value of Sankarandas Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Sankarandas Street (Ward -7) has changed

The guideline value for Sankarandas Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The subsequent revision in 2023 increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 to 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, the register has no figures for Sankarandas Street for the years 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Sankarandas Street's 2024 figure above that median.

• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sangamithirai Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Saptank Kulam (Ward -3): Rs 440 per sq.ft (2024)
• Sampath Nagar (Kr): Rs 440 per sq.ft (2024)
• Samidass Street (N): Rs 660 per sq.ft (2024)
• Sakthi Nagar (Per): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarandas Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Sankarandas Street (Ward -7)?

The Sub Registrar Office that covers Sankarandas Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and fairness in property dealings, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sankarandas Street (Ward -7)?

The current guideline value of Sankarandas Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sankarandas Street?

Sankarandas Street is classified as Residential Special Type - V, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would be Rs 1,18,800.

Which office handles the registration for Sankarandas Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Sankarandas Street (Ward -7), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.