Guideline Value for SAPPHIRE

Sapphire guideline value

The current guideline value of Sapphire, located in Pulikoradu village under the Tambaram Joint 1 SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sapphire has changed

Looking at the revisions, the guideline value for Sapphire was Rs 3,500 per sq.ft in both the 2017 and 2023 revisions. There were no figures available for the years 2002, 2003, 2007, and 2012. The most recent revision in 2024 saw an increase to Rs 3,850 per sq.ft, marking a 10% rise from the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. This change reflects the current market conditions and regulations set by the Registration Department.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 880 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, making the 2024 figure for Sapphire significantly above that median.

• School Street: Rs 880 per sq.ft (2024)
• Selvapuram: Rs 880 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Ramesh Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar Ext: Rs 1,320 per sq.ft (2024)
• Ramesh Nagar 3rd street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sapphire

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sapphire?

The Sub Registrar Office that covers Sapphire is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Pulikoradu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Sapphire?

The current guideline value of Sapphire is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sapphire has increased from Rs 3,500 per sq.ft in 2017 and 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Sapphire?

Sapphire is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Sapphire?

The Sub Registrar Office for Sapphire is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Sapphire?

The stamp duty for properties in Sapphire is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.