Guideline Value for Sankaranarayanan Street

Sankaranarayanan Street guideline value

The current guideline value of Sankaranarayanan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sankaranarayanan Street has changed

Looking at the historical revisions, the guideline value for Sankaranarayanan Street was Rs 3,000 per sq.ft in 2023, which increased to Rs 3,300 per sq.ft in 2024, marking a 10% rise. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, reflecting a significant increase of 49% to reach the 2023 figure. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The current guideline value of Rs 3,300 per sq.ft is notably higher than the previous 2012 rate of Rs 3,000 per sq.ft.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sankaranarayanan Street's 2024 figure above this median.

• Sankar Street: Rs 1,650 per sq.ft (2024)
• Sanmuganathan Street: Rs 1,650 per sq.ft (2024)
• Sangam Street: Rs 1,650 per sq.ft (2024)
• Santhiran Street(Santhiran Avenue): Rs 1,650 per sq.ft (2024)
• Sapthagiri Street: Rs 1,650 per sq.ft (2024)
• Saradha Avenue 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sankaranarayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together to Rs 2,97,000. 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 information on calculating these fees.

Which Sub Registrar Office covers Sankaranarayanan Street?

The Sub Registrar Office that covers Sankaranarayanan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

When buying or selling property in Chitlapakkam, the guideline value is a critical factor as it determines the minimum value at which the property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs involved in property transactions. Ensuring that the sale price meets or exceeds the guideline value is crucial for a smooth registration process.

Frequently asked questions

What is the current guideline value of Sankaranarayanan Street?

The current guideline value of Sankaranarayanan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification for Sankaranarayanan Street?

The land classification for Sankaranarayanan Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Sankaranarayanan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.