Guideline Value for Sankar Nagar Extension

Sankar Nagar Extension guideline value

The current guideline value of Sankar Nagar Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village, under the Alandur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Sankar Nagar Extension has changed

The guideline value for Sankar Nagar Extension has seen several revisions over the years. In 2002, the guideline value was Rs 208 per sq.ft, which increased to Rs 233 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The subsequent revisions saw the value rise again to Rs 2,500 per sq.ft in 2023 and finally to Rs 2,800 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +12%. The value then surged by +329% from 2003 to 2007. Following that, there was a +150% increase from 2007 to 2012, but a decrease of -33% occurred from 2012 to 2017. The value rose by +49% from 2017 to 2023, and finally, there was a +12% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1246%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the current guideline value for Sankar Nagar Extension.

• Sankar Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Sankar Nagar: Rs 2,800 per sq.ft (2024)
• Samy Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Main/ Samy nagar main road: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. 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 Sankar Nagar Extension?

The Sub Registrar Office that covers Sankar Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price. The higher of the two will be used to calculate the applicable duties and fees, ensuring that all transactions are aligned with the current regulations.

Frequently asked questions

What is the current guideline value of Sankar Nagar Extension?

The current guideline value of Sankar Nagar Extension is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 208 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of +1246% over the years.

What is the land classification for Sankar Nagar Extension?

Sankar Nagar Extension falls under the Residential Class II Type - I land classification, which is relevant for property transactions in the area.

What are the stamp duty rates for property in Sankar Nagar Extension?

The stamp duty for property transactions in Sankar Nagar Extension is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles registrations for properties in Sankar Nagar Extension.