Guideline Value for Sankara Nagar Stage I

Sankara Nagar Stage I guideline value

The current guideline value for Sankara Nagar Stage I is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO). The land classification for this street is Commercial Class I Type - II.

How the guideline value of Sankara Nagar Stage I has changed

The guideline value for Sankara Nagar Stage I has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The current value of Rs 2,750 per sq.ft reflects a 10% increase from the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has risen by 64%, showcasing a steady increase over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Sankara Nagar Stage I above this median value.

• Sankaranarayanan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• SanjayGandhi Street / Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Sangamithrai Street: Rs 1,760 per sq.ft (2024)
• Samundeswari Nagar ,Cross Street: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar Krishna Street: Rs 2,530 per sq.ft (2024)
• Samundeeswari Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sankara Nagar Stage I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankara Nagar Stage I?

The Sub Registrar Office that covers Sankara Nagar Stage I is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Sankara Nagar Stage I?

The current guideline value for Sankara Nagar Stage I is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Sankara Nagar Stage I?

The land classification for Sankara Nagar Stage I is Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated for properties in Sankara Nagar Stage I?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would amount to Rs 2,47,500.