Guideline Value for SANKARAPURAM 1ST STREET

Sankarapuram 1st Street guideline value

The current guideline value of Sankarapuram 1st Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sankarapuram 1st Street has changed

The guideline value for Sankarapuram 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 809 per sq.ft, which increased to Rs 889 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,400 per sq.ft in 2007, and then to Rs 5,300 per sq.ft in 2012. However, it saw a decrease to Rs 3,551 per sq.ft in 2017. The value then increased to Rs 5,300 per sq.ft in 2023, before reaching the current value of Rs 5,800 per sq.ft in 2024.

Between revisions, the changes were notable. From 2002 to 2003, the increase was +10%. The value then rose by +57% from 2003 to 2007. A significant increase of +279% occurred from 2007 to 2012. The value dropped by -33% from 2012 to 2017, followed by a +49% increase from 2017 to 2023. Finally, there was a +9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +617%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, which is equal to the current figure for Sankarapuram 1st Street.

• Sankarapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Sankarapuram 3rd Street: Rs 5,800 per sq.ft (2024)
• Sankarapuram 4th Street: Rs 5,800 per sq.ft (2024)
• Sankarapuram Main Road: Rs 6,300 per sq.ft (2024)
• Samayapurathamman Street: Rs 5,000 per sq.ft (2024)
• Sakthi Nagar, Kodambakkam: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. 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 accurate calculations.

Which Sub Registrar Office covers Sankarapuram 1st Street?

The Sub Registrar Office that covers Sankarapuram 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties. The registration office uses this value to assess the transaction, which is essential for maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sankarapuram 1st Street?

The current guideline value of Sankarapuram 1st Street is Rs 5,800 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 809 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of +617% over this period.

What is the land classification for Sankarapuram 1st Street?

Sankarapuram 1st Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sankarapuram 1st Street?

The Sub Registrar Office for Sankarapuram 1st Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the stamp duty for a property in Sankarapuram 1st Street?

The stamp duty for a property valued at Rs 58,00,000 would be Rs 4,06,000 at 7%, along with a registration fee of Rs 1,16,000 at 2%, totaling Rs 5,22,000.