Guideline Value for S K NAGAR

S K Nagar guideline value

The current guideline value of S K Nagar, located in Athimanam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from the 2024 revision starting 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of S K Nagar has changed

Over the years, the guideline value of S K Nagar has seen several revisions. The most recent revisions show that the guideline value was Rs 200 per sq.ft in both 2023 and 2024, indicating no change between these two years. In the 2017 revision, the value was Rs 134 per sq.ft, which reflects a significant increase of 49% when compared to the 2023 figure. In 2012, the guideline value was again set at Rs 200 per sq.ft, marking a decrease of 33% from the 2017 revision.

When considering the overall changes from 2012 to 2024, the guideline value remains unchanged at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Athimanam

Currently, there are no specific guideline values available for other streets in Athimanam under the Madurandakam SRO. S K Nagar is classified under the Residential Special Type - I category.

Stamp duty and registration fee for property in S K Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S K Nagar?

The Sub Registrar Office that covers S K Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Athimanam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of S K Nagar?

The current guideline value of S K Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase from Rs 134 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for a property in S K Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. This is based on the current guideline value.

Where is the Sub Registrar Office for S K Nagar located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and serves as a basis for calculating the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value when engaging in real estate transactions.