Guideline Value for Sankar Nagar

Sankar Nagar guideline value

The current guideline value of Sankar Nagar, located in Irunkattukottai village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Sankar Nagar has changed

Over the years, the guideline value of Sankar Nagar has seen several revisions. The 2007 revision set the value at Rs 80 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 167 per sq.ft, before rising again to Rs 250 per sq.ft in both the 2023 and 2024 revisions, reflecting a 50% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 213%.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Sankar Nagar is below this median.

• Saran Singh Street: Rs 400 per sq.ft (2024)
• Sakthi Nagar: Rs 250 per sq.ft (2024)
• Sabari Nagar: Rs 400 per sq.ft (2024)
• Sivaji Street: Rs 400 per sq.ft (2024)
• Sivan Koil Street: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total of Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankar Nagar?

The Sub Registrar Office that covers 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 Irunkattukottai

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This value helps to standardize property transactions and maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sankar Nagar?

The current guideline value of Sankar Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Irunkattukottai?

Other streets in Irunkattukottai have varying guideline values, ranging from Rs 250 to Rs 1,250 per sq.ft, with the median being Rs 400 per sq.ft. Sankar Nagar's guideline value is below this median.

How is stamp duty calculated for properties in Sankar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at 7%.

Where is the Sub Registrar Office for Sankar Nagar located?

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