Guideline Value for Sankaralaya Apartments

Sankaralaya Apartments guideline value

The current guideline value of Sankaralaya Apartments is Rs 2,640 per sq.ft, effective from 1 July 2024. This property is located in Perungalathur village, under the Padappai Sub Registrar Office (SRO), and falls under the Residential Class I Type - I land classification.

How the guideline value of Sankaralaya Apartments has changed

The guideline value for Sankaralaya Apartments has seen several revisions over the years. In 2012, the value was set at Rs 2,400 per sq.ft, which then decreased to Rs 1,608 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,400 per sq.ft in 2023, before rising again to the current rate of Rs 2,640 per sq.ft in 2024. The register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest revision from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a modest 10% increase.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, positioning Sankaralaya Apartments above this median.

• Sanjay Nagar: Rs 2,310 per sq.ft (2024)
• Sanjay Gandhi Street: Rs 2,640 per sq.ft (2024)
• Santhosh Nagar: Rs 1,650 per sq.ft (2024)
• Saranga Avenue: Rs 2,310 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,970 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sankaralaya Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, making the total cost for duties and fees Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankaralaya Apartments?

The Sankaralaya Apartments fall under 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 Perungalathur

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sankaralaya Apartments?

The current guideline value of Sankaralaya Apartments is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,640 per sq.ft in 2024.

What is the land classification of Sankaralaya Apartments?

Sankaralaya Apartments is classified under Residential Class I Type - I, indicating its designation for residential use.

Where can I find the registration office for Sankaralaya Apartments?

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

How is stamp duty calculated for properties in Sankaralaya Apartments?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 at a rate of 7%.