Guideline Value for S.K. Nagar

S.K. Nagar guideline value

The current guideline value of S.K. Nagar in Vijayanallur village, under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of S.K. Nagar has changed

The guideline value for S.K. Nagar has undergone several revisions over the years. Starting from Rs 200 per sq.ft in 2007, it increased to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. Following that, the value saw a significant rise to Rs 400 per sq.ft in 2023, and further increased by 10% to Rs 440 per sq.ft in 2024.

In summary, the changes in guideline value from 2007 to 2024 show an overall increase of 120%. The revisions without figures for this street are from the years 2002 and 2003.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 540 per sq.ft. The guideline value of S.K. Nagar is below this median.

• Siva Sakthi Nagar Annexe: Rs 550 per sq.ft (2024)
• Sivasakthi Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Garden: Rs 440 per sq.ft (2024)
• Tata Nagar: Rs 550 per sq.ft (2024)
• Tata Nagar Extn.: Rs 550 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in S.K. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.K. Nagar?

The Sub Registrar Office covering S.K. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Vijayanallur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a reference point for the official valuation of the property, ensuring that both parties are aware of the financial obligations associated with the transaction.

During registration, the guideline value is used to calculate the applicable stamp duty and registration fees, which must be paid to complete the transaction legally. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.K. Nagar?

The current guideline value of S.K. Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 4,40,000. The stamp duty is Rs 30,800, and the registration fee is Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers S.K. Nagar?

The Redhills Sub Registrar Office covers S.K. Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of S.K. Nagar?

S.K. Nagar falls under the Residential Class III Type - I land classification.