Guideline Value for SANKARAPURAM

Sankarapuram guideline value

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

How the guideline value of Sankarapuram has changed

The guideline value for Sankarapuram has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and most recently, it has risen to Rs 3,300 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

Chitthalapakkam has 107 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, placing Sankarapuram's 2024 figure above this median.

• Sankarapuram Extension: 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

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

Which Sub Registrar Office covers Sankarapuram?

The Sub Registrar Office covering Sankarapuram 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 critical factor in the registration process for property transactions in Chitthalapakkam. It determines the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both buyers and sellers are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sankarapuram?

The current guideline value of Sankarapuram 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What are the stamp duty and registration fees for properties in Sankarapuram?

The stamp duty for properties in Sankarapuram is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Sankarapuram?

The Selaiyur Sub Registrar Office covers Sankarapuram, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Sankarapuram?

Sankarapuram is classified as Residential Special Type - III, which indicates its designated use for residential purposes.