Guideline Value for SANKARAPURAM EXTENSION

Sankarapuram Extension guideline value

The current guideline value of Sankarapuram Extension in Chitthalapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Sankarapuram Extension has changed

Over the years, the guideline value for Sankarapuram Extension has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft. However, it decreased to Rs 2,010 per sq.ft in the 2017 revision. The following year, in 2023, the value increased to Rs 3,000 per sq.ft, and in the latest revision for 2024, it rose to Rs 3,300 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. Following that, from 2017 to 2023, the value increased by 49%. The latest change from the 2023 to the 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Sankarapuram Extension is above this median.

• Sankarapuram: Rs 3,300 per sq.ft (2024)
• Sarangapani Avenue: Rs 2,900 per sq.ft (2024)
• Seethammal Nagar: Rs 2,950 per sq.ft (2024)
• Sekaran S Woodrow Manor: Rs 3,300 per sq.ft (2024)
• Royal Garden: Rs 2,250 per sq.ft (2024)
• Senthamizh Nagar Veenus Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarapuram Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sankarapuram Extension?

The Sub Registrar Office covering Sankarapuram Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chitthalapakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is registered, the guideline value helps determine the minimum value at which the property can be sold. This prevents undervaluation and ensures that the appropriate taxes are collected by the government during the transaction.

Frequently asked questions

What is the current guideline value of Sankarapuram Extension?

The current guideline value of Sankarapuram Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sankarapuram Extension?

Sankarapuram Extension is classified as Residential Special Type - III, indicating its suitability for residential development.

What is the registration office for Sankarapuram Extension?

The Selaiyur Sub Registrar Office is responsible for the registration of properties in Sankarapuram Extension, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

How is stamp duty calculated for properties in Sankarapuram Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a total guideline value of Rs 33,00,000, leading to specific stamp duty and registration fees.