Guideline Value for Sankaran Street

Sankaran Street guideline value

The current guideline value of Sankaran Street in Porunthavakkam village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - II.

How the guideline value of Sankaran Street has changed

Over the years, the guideline value of Sankaran Street has seen several revisions. The 2003 revision recorded a guideline value of Rs 495 per sq.ft, which increased to Rs 700 per sq.ft in 2007. This was followed by a significant jump to Rs 2,500 per sq.ft in 2012, but then it decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 raised it to Rs 2,750 per sq.ft. Notably, there is no figure available for the 2002 revision in the register.

The changes between these revisions are noteworthy. From 2003 to 2007, the value increased by 41%. However, from 2007 to 2012, there was a decrease of 33%. After that, the value surged by 257% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and the most recent increase from 2023 to 2024 is 10%. Overall, from 2003 to 2024, the guideline value has increased by 456%.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Sankaran Street's 2024 figure above this median.

• Saraswathi Street: Rs 1,760 per sq.ft (2024)
• Sathsangam Street: Rs 2,420 per sq.ft (2024)
• Sabari Salai: Rs 3,300 per sq.ft (2024)
• Senthuran Colony: Rs 3,300 per sq.ft (2024)
• Park Square Street: Rs 1,760 per sq.ft (2024)
• Nehru Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sankaran Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sankaran Street?

The Sub Registrar Office that covers Sankaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Porunthavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This process helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Sankaran Street?

The current guideline value of Sankaran Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 495 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 456% over the years.

What are the other streets in Porunthavakkam and their guideline values?

Other streets in Porunthavakkam include Saraswathi Street at Rs 1,760 per sq.ft, Sathsangam Street at Rs 2,420 per sq.ft, and Sabari Salai at Rs 3,300 per sq.ft, among others.

Where is the Sub Registrar Office for Sankaran Street located?

The Sub Registrar Office for Sankaran Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sankaran Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.