Guideline Value for SANKARAPURAM 3RD STREET

Sankarapuram 3rd Street guideline value

The current guideline value of Sankarapuram 3rd Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sankarapuram 3rd Street has changed

The guideline value for Sankarapuram 3rd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 809 per sq.ft. This increased to Rs 889 per sq.ft in 2003, then rose significantly to Rs 1,400 per sq.ft in 2007. The value continued to increase to Rs 5,300 per sq.ft in 2012, but saw a decrease to Rs 3,551 per sq.ft in 2017. The guideline value then increased to Rs 5,300 per sq.ft in 2023, and finally to the current rate of Rs 5,800 per sq.ft in 2024.

Between the revisions, notable changes include a 10% increase from 2002 to 2003, a 57% increase from 2003 to 2007, a 279% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The increase from 2023 to 2024 is 9%. 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 with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is equal to the current value of Sankarapuram 3rd Street.

• Sankarapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Sankarapuram 4th Street: Rs 5,800 per sq.ft (2024)
• Sankarapuram 1st 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 3rd 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 together to Rs 5,22,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankarapuram 3rd Street?

The Sub Registrar Office that covers Sankarapuram 3rd 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 details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Puliyur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

At the time of registration, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sankarapuram 3rd Street?

The current guideline value of Sankarapuram 3rd 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 multiple times, starting from Rs 809 per sq.ft in 2002 to the current Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 617% over the years.

What are the other streets in Puliyur with the same guideline value?

Other streets in Puliyur with the same guideline value of Rs 5,800 per sq.ft include Sankarapuram 1st Street, Sankarapuram 2nd Street, and Sankarapuram 4th Street.

Where can I find the registration office for Sankarapuram 3rd Street?

The registration office for Sankarapuram 3rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Puliyur?

Stamp duty for properties in Puliyur is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.