Guideline Value for Sankar Street

Sankar Street guideline value

The current guideline value of Sankar Street in Oragadam village, under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Sankar Street has changed

The guideline value for Sankar Street has seen several revisions over the years. Starting from Rs 152 per sq.ft in 2002, it increased to Rs 164 per sq.ft in 2003. Following that, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 1,300 per sq.ft in 2012. However, it decreased to Rs 871 per sq.ft in 2017 before increasing to Rs 1,300 per sq.ft in 2023, and finally reaching Rs 1,400 per sq.ft in 2024. The changes between these revisions include an increase of 8% from 2023 to 2024 and a notable increase of 49% from 2017 to 2023.

It is important to note that there are no figures available for the years not specifically mentioned in the register for this street. The guideline values have fluctuated over time, reflecting various economic factors.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Sankar Street's guideline value of Rs 1,400 per sq.ft is below this median.

• Sangam Street: Rs 1,400 per sq.ft (2024)
• Samy Chetty Street: Rs 1,600 per sq.ft (2024)
• Sampath Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Saraswathi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Sakthi vinayagar Koil Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Sathayavani Muthu Street (S.V.Nagar): Rs 1,600 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 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. 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 Street?

The Sub Registrar Office that covers Sankar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the sale price or the guideline value, whichever is higher, is taken into account for calculating the applicable stamp duty and registration fees.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with legal requirements during property transactions. It also helps in assessing the financial implications of the sale, including the costs associated with registration and duty payments.

Frequently asked questions

What is the current guideline value of Sankar Street?

The current guideline value of Sankar Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 152 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, with various increases and decreases along the way.

What is the land classification of Sankar Street?

Sankar Street falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Sankar Street?

The Ambattur Sub Registrar Office covers Sankar Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Sankar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000, leading to a stamp duty of Rs 98,000.