Guideline Value for Sankar Avenue

Sankar Avenue guideline value

The current guideline value of Sankar Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sankar Avenue has changed

The guideline value of Sankar Avenue has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and most recently, it rose to Rs 1,320 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, between 2017 and 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Sankar Avenue lower than the median.

• Sanakiyapuri Nagar: Rs 1,650 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,100 per sq.ft (2024)
• Salom Nagar: Rs 990 per sq.ft (2024)
• Saraswathi Nagar @ Selva Nagar: Rs 1,100 per sq.ft (2024)
• Sarveswari Nagar: Rs 1,650 per sq.ft (2024)
• Sastri Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sankar Avenue?

The Sub Registrar Office that covers Sankar Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial metric used during the registration of property transactions in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value that the property can be registered for, which is essential for legal and financial processes. This value is particularly important for determining the applicable taxes and fees during the transaction.

Frequently asked questions

What is the current guideline value of Sankar Avenue?

The current guideline value of Sankar Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sankar Avenue?

Sankar Avenue is classified as Residential Class I Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for property in Sankar Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800 for these fees.

Where can I find the Sub Registrar Office for Sankar Avenue?

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