Guideline Value for Sankar Street

Sankar Street guideline value

The current guideline value of Sankar Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sankar Street.

• Sanmuganathan Street: Rs 1,650 per sq.ft (2024)
• Sankaranarayanan Street: Rs 3,300 per sq.ft (2024)
• Santhiran Street (Santhiran Avenue): Rs 1,650 per sq.ft (2024)
• Sangam Street: Rs 1,650 per sq.ft (2024)
• Sapthagiri Street: Rs 1,650 per sq.ft (2024)
• Saradha Avenue 2nd Street: Rs 2,750 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankar Street?

The Sub Registrar Office covering Sankar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable taxes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Sankar Street?

The current guideline value of Sankar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft in 2024.

What is the registration office for Sankar Street?

The registration office for Sankar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Sankar Street?

Stamp duty for properties in Sankar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,15,500 based on the current guideline value.

What are the other streets with similar guideline values in Chitlapakkam?

Other streets in Chitlapakkam with similar guideline values include Sanmuganathan Street, Santhiran Street, Sangam Street, and Sapthagiri Street, all valued at Rs 1,650 per sq.ft in 2024.