Guideline Value for SHEEP FARM ROAD (WARD-21)

Sheep Farm Road (Ward-21) guideline value

The current guideline value of Sheep Farm Road (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sheep Farm Road (Ward-21) has changed

The guideline value for Sheep Farm Road has undergone several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, and then an increase to Rs 600 per sq.ft in 2023. The current value is Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes between the revisions are notable. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Sheep Farm Road's current value below this median.

• Shanmugapriya Nagar (Ward-21): Rs 1,650 per sq.ft (2024)
• School Street (Ward -1): Rs 770 per sq.ft (2024)
• Samundeeswari Naga Potheri (Ward-20): Rs 1,980 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 880 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 880 per sq.ft (2024)
• Saisakthi Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sheep Farm Road (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Sheep Farm Road (Ward-21)?

The Sub Registrar Office that covers Sheep Farm Road (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Konathi

The guideline value plays a crucial role in the registration process when buying or selling property in Konathi. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is registered, the buyer or seller must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sheep Farm Road (Ward-21)?

The current guideline value of Sheep Farm Road (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sheep Farm Road?

Sheep Farm Road is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Sheep Farm Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the stamp duty would be Rs 46,200.