Guideline Value for Sankar Street

Sankar Street guideline value

The current guideline value of Sankar Street in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Sankar Street has changed

The guideline value for Sankar Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which significantly increased to Rs 2,200 per sq.ft in 2012. However, this value dropped to Rs 1,474 per sq.ft in 2017. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and it has now increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, the register has no figures for Sankar Street for the years 2002 and 2003. The overall change from the 2007 revision to the 2024 revision is an increase of 450%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value range from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Sankar Street's 2024 value above this median.

• Sambandam Street: Rs 2,420 per sq.ft (2024)
• Saraswathi Street: Rs 2,160 per sq.ft (2024)
• Sarathi 1 To 3 Streets: Rs 2,160 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Royapettai Odai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Royapettai 1 & 2 Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sankar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sankar Street?

The Sub Registrar Office covering Sankar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is essential for property transactions in Nemilicherry, as it determines the minimum value at which properties can be registered. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, both parties must consider the guideline value to ensure compliance with local regulations. This value helps to maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sankar Street?

The current guideline value of Sankar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Sankar Street?

Sankar Street is classified as Residential Class I Type - III under the Pallavaram SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Sankar Street located?

The Sub Registrar Office for Sankar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.