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 road is located in Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. In 2012, the guideline value was Rs 600 per sq.ft. This figure remained the same until the next revision in 2017, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 600 per sq.ft again. The most recent revision in 2024 set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sheep Farm Road. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, making the current value of Rs 660 per sq.ft for Sheep Farm Road below the median.

• Shanmugapriya Nagar (Ward-21): Rs 1,650 per sq.ft (2024)
• School Street (Ward -1): Rs 770 per sq.ft (2024)
• Sree Seshathri Hill View Phase - II: Rs 1,650 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)

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

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for these fees would be Rs 59,400. Please note that the 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 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallancheri. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the actual value of the transaction.

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?

The land classification for Sheep Farm Road (Ward-21) is Residential Class II Type - I.

Where can I find the Chengleput Joint II SRO?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is considered for calculating these fees.