Guideline Value for Sankar Nagar

Sankar Nagar guideline value

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

How the guideline value of Sankar Nagar has changed

The guideline value for Sankar Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 208 per sq.ft. It increased to Rs 233 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, reflecting an increase of +329%. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, which was a decrease of -33% from the previous figure. The 2017 revision brought the value up to Rs 1,675 per sq.ft, an increase of +49% from 2012. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,800 per sq.ft, a rise of +12%.

Overall, from 2002 to 2024, the guideline value has increased by +1246%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ullagaram

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

• Sankar Nagar Extension: Rs 2,800 per sq.ft (2024)
• Sankar Nagar Main Road: 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

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, bringing the total fees together to Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sankar Nagar?

The Sub Registrar Office that covers Sankar Nagar 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sankar Nagar?

The current guideline value of Sankar Nagar 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 from Rs 208 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1246% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in Sankar Nagar?

The Alandur Sub Registrar Office handles property registrations in Sankar Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Sankar Nagar?

Sankar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential developments.