Guideline Value for SANKARAPURAM 2ND STREET

Sankarapuram 2nd Street guideline value

The current guideline value of Sankarapuram 2nd Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Sankarapuram 2nd Street has changed

Over the years, the guideline value of Sankarapuram 2nd Street has seen significant changes. In 2002, the guideline value was Rs 809 per sq.ft, which increased to Rs 889 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,400 per sq.ft in 2007, reflecting a 57% increase. Following this, the value surged to Rs 5,300 per sq.ft in 2012, a remarkable 279% increase. However, the value dropped to Rs 3,551 per sq.ft in 2017, indicating a decrease of 33%. The guideline value then increased to Rs 5,300 per sq.ft in 2023, followed by a final increase to Rs 5,800 per sq.ft in 2024, which is a 9% rise.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 617%.

Guideline values in Puliyur

The guideline values for properties in Puliyur range from Rs 3,300 to Rs 14,300 per sq.ft, with the median value being Rs 5,800 per sq.ft. The guideline value of Sankarapuram 2nd Street aligns with this median.

• Sankarapuram 1st 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 2nd 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 amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total fees to Rs 5,22,000. Please 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 details.

Which Sub Registrar Office covers Sankarapuram 2nd Street?

The Sub Registrar Office that covers Sankarapuram 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Sankarapuram 2nd Street?

The current guideline value of Sankarapuram 2nd 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 are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000, and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which Sub Registrar Office covers this area?

The Kodambakkam Sub Registrar Office covers Sankarapuram 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Sankarapuram 2nd Street?

Sankarapuram 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.