Guideline Value for SANKARAPANDIYAN NAGAR

Sankarapandiyan Nagar guideline value

The current guideline value of Sankarapandiyan Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sankarapandiyan Nagar has changed

The guideline value for Sankarapandiyan Nagar has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 500 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +40%.

With the 2024 revision, the current guideline value aligns with the median value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO. This indicates a significant adjustment in the valuation of properties in this area.

Guideline values in Ponneri

The guideline values for streets in Ponneri vary, with the 2024 figures ranging from Rs 201 to Rs 1,200 per sq.ft. Sankarapandiyan Nagar's guideline value of Rs 700 per sq.ft is equal to the median value for the area.

• Samundeeswari Nagar: Rs 700 per sq.ft (2024)
• Sharma Avenue: Rs 1,200 per sq.ft (2024)
• Sivan Kovil St: Rs 900 per sq.ft (2024)
• Sivan Kovil Street: Rs 700 per sq.ft (2024)
• Sivaraj Street: Rs 1,200 per sq.ft (2024)
• Sowdambigai Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarapandiyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sankarapandiyan Nagar?

The Sub Registrar Office that covers Sankarapandiyan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ponneri, as it determines the minimum value at which a property can be registered. This value is used to calculate applicable stamp duty and registration fees, ensuring that the transaction is in accordance with government regulations.

When engaging in property transactions, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the registration process. Buyers and sellers should ensure that they are informed of the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sankarapandiyan Nagar?

The current guideline value of Sankarapandiyan Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 500 per sq.ft to Rs 700 per sq.ft, representing a change of +40%.

What is the land classification of Sankarapandiyan Nagar?

Sankarapandiyan Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations in the area.

How is stamp duty calculated for properties in Sankarapandiyan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, leading to a stamp duty of Rs 49,000.