Guideline Value for SRIMATHI SANKAR NAGAR

Srimathi Sankar Nagar guideline value

The current guideline value of Srimathi Sankar Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Azhakoor village and falls under the Sriperumpudur SRO. The land classification for this street is New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Srimathi Sankar Nagar has changed

Over the years, the guideline value of Srimathi Sankar Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. In contrast, the 2017 revision recorded a lower value of Rs 134 per sq.ft, indicating a decrease of 33% from the 2012 figure. From 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft, which remained the same in the 2023 revision as well. The 2024 revision maintains this value, resulting in a 0% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Azhakoor

Azhakoor village has 18 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 350 per sq.ft. The median value for these streets is Rs 225 per sq.ft, positioning Srimathi Sankar Nagar's 2024 figure below this median.

• Sriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Sri Jai Vignesh Nagar: Rs 300 per sq.ft (2024)
• Sri Azhagar Nagar: Rs 300 per sq.ft (2024)
• Sri Selva Vingnesh Nagar: Rs 300 per sq.ft (2024)
• Sri Sundararaja Perumal City: Rs 200 per sq.ft (2024)
• Sbi Colony: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Srimathi Sankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, resulting in Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Together, the total cost for stamp duty and registration fee is Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Srimathi Sankar Nagar?

The Sub Registrar Office that covers Srimathi Sankar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Azhakoor. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Additionally, the guideline value is essential for assessing the market rate of properties in the area. Buyers and sellers must consider this value to ensure that they are adhering to the legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Srimathi Sankar Nagar?

The current guideline value of Srimathi Sankar Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This value is applicable for property transactions in this area.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the land classification for Srimathi Sankar Nagar?

Srimathi Sankar Nagar is classified as a New House Site Type -II (Unapproved Lay-Out). This classification is important for understanding the regulations and potential uses of the land.

How is stamp duty calculated for properties in Srimathi Sankar Nagar?

Stamp duty for properties in Srimathi Sankar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 14,000.

Where can I find the Sub Registrar Office for Srimathi Sankar Nagar?

The Sub Registrar Office for Srimathi Sankar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu zone. This office handles all property registrations in the area.