Guideline Value for Sankara Nagar

Sankara Nagar guideline value

The current guideline value of Sankara Nagar in Pazhanthandalam village, under the Padappai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sankara Nagar has changed

The guideline value for Sankara Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. The 2023 revision increased it to Rs 1,000 per sq.ft, followed by the current 2024 revision that established the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, 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 Pazhanthandalam

Pazhanthandalam village has 57 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Sankara Nagar.

• Samathuva Nagar: Rs 1,100 per sq.ft (2024)
• Sai Pooja Avenue: Rs 1,100 per sq.ft (2024)
• Rathi's Sri Sai City-Phase-III: Rs 1,540 per sq.ft (2024)
• Rathi's Sri Sai City Phase-II: Rs 1,540 per sq.ft (2024)
• Rathi's Sri Sai City Phase-I: Rs 1,540 per sq.ft (2024)
• Shanmuga Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sankara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sankara Nagar?

The Sub Registrar Office that covers Sankara Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pazhanthandalam. It serves as a benchmark for determining the stamp duty and registration fees payable when transferring property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers must consider the guideline value for accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Sankara Nagar?

The current guideline value of Sankara Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sankara Nagar?

The land classification for Sankara Nagar is Residential Special Type - I.

What are the other streets with guideline values in Pazhanthandalam?

Other streets in Pazhanthandalam include Samathuva Nagar and Sai Pooja Avenue, both at Rs 1,100 per sq.ft (2024), as well as Rathi's Sri Sai City-Phase-III, II, and I at Rs 1,540 per sq.ft (2024), and Shanmuga Nagar at Rs 770 per sq.ft (2024).

Where can I find the Sub Registrar Office for Sankara Nagar?

The Sub Registrar Office for Sankara Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.