Guideline Value for Sankaradasar Street

Sankaradasar Street guideline value

The current guideline value of Sankaradasar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sankaradasar Street has changed

Over the years, the guideline value of Sankaradasar Street has seen several revisions. The earliest recorded revision was in 2017, where the value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Sankaradasar Street's 2024 figure below the median.

• Sankara Nagar/Sivaprakasa Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sankaranathan Street: Rs 1,650 per sq.ft (2024)
• Sankaran Street: Rs 1,650 per sq.ft (2024)
• Sannathi Street: Rs 2,200 per sq.ft (2024)
• Sannathi Street Ayyappa Nagar Extn: Rs 2,200 per sq.ft (2024)
• Samy Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sankaradasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Sankaradasar Street?

The Sub Registrar Office that covers Sankaradasar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the property registration process in Madipakkam-1. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value, helping to maintain transparency in property dealings. Buyers should be aware that the guideline value can influence the overall cost of purchasing property in this area.

Frequently asked questions

What is the current guideline value of Sankaradasar Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over these years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot valued at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for Sankaradasar Street?

The Velacheri Sub Registrar Office handles registrations for Sankaradasar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sankaradasar Street?

The land classification for Sankaradasar Street is Residential Class II Type - I, indicating its suitability for residential purposes.