Guideline Value for Sanakiyapuri Nagar

Sanakiyapuri Nagar guideline value

The current guideline value of Sanakiyapuri Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sanakiyapuri Nagar has changed

The guideline value for Sanakiyapuri Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 900%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 1000%, showcasing significant changes over the years. The 2017 to 2023 period saw a notable increase of 49%, indicating a steady rise in the guideline value during that time.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Sanakiyapuri Nagar.

• Sankar Avenue: Rs 1,320 per sq.ft (2024)
• Salom Nagar: Rs 990 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,100 per sq.ft (2024)
• Saraswathi Nagar @ Selva Nagar: Rs 1,100 per sq.ft (2024)
• Sai Beverly Hills Phase V: Rs 2,300 per sq.ft (2024)
• Sai Beverly Hills Phase IV: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sanakiyapuri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sanakiyapuri Nagar?

The Sub Registrar Office that covers Sanakiyapuri Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the financial obligations involved in property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Sanakiyapuri Nagar?

The current guideline value of Sanakiyapuri Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification for Sanakiyapuri Nagar?

Sanakiyapuri Nagar is classified as Residential Special Type - II, which indicates the type of development permissible in the area.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Sanakiyapuri Nagar?

Stamp duty in Sanakiyapuri Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.