Guideline Value for Thiyagi Sankaralingam Street

Thiyagi Sankaralingam Street guideline value

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

How the guideline value of Thiyagi Sankaralingam Street has changed

The guideline value for Thiyagi Sankaralingam Street has seen several revisions over the years. The earliest recorded value was Rs 466 per sq.ft in 2002. This figure increased to Rs 509 per sq.ft in 2003, marking a rise of 9%. In 2007, the value surged to Rs 550 per sq.ft, reflecting an 8% increase. A significant jump occurred in 2012, where the value reached Rs 3,000 per sq.ft, a remarkable increase of 445%. However, this value decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. The overall change from 2002 to 2024 shows a substantial increase of 608%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, placing Thiyagi Sankaralingam Street's 2024 guideline value below that median.

• Tilaiyadi Valliammai Street: Rs 4,950 per sq.ft (2024)
• Thiruvengadam Swamy Street: Rs 3,300 per sq.ft (2024)
• Thiruvengadam Mudali Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Valampuri Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagi Sankaralingam 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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiyagi Sankaralingam Street?

The Thiyagi Sankaralingam Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Thiyagi Sankaralingam Street?

The current guideline value of Thiyagi Sankaralingam 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 significantly from Rs 466 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 608% over this period.

What is the land classification for Thiyagi Sankaralingam Street?

Thiyagi Sankaralingam Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for Thiyagi Sankaralingam Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.