Guideline Value for Sankarlal jain Street

Sankarlal jain Street guideline value

The current guideline value of Sankarlal jain Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Sankarlal jain Street has changed

The guideline value for Sankarlal jain Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,012 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in the 2012 revision, marking a 167% increase. However, this value decreased to Rs 1,809 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision then raised the value to Rs 2,700 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Sankarlal jain Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Sankarlal jain Street.

• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)
• Sangam Street: Rs 2,970 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Samiyammal Colony: Rs 2,380 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sankarlal jain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration would be Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sankarlal jain Street?

The Sub Registrar Office that covers Sankarlal jain Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Sankarlal jain Street?

The current guideline value of Sankarlal jain Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,012 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in Sankarlal jain Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,70,000. The stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles the registration for Sankarlal jain Street?

The Pallavaram Sub Registrar Office handles the registration for Sankarlal jain Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Sankarlal jain Street?

Sankarlal jain Street falls under the Residential Class I Type - I land classification, indicating its designation for residential use.