Guideline Value for S.K.NAGAR MAIN ROAD

S.K.Nagar Main Road guideline value

The current guideline value of S.K.Nagar Main Road in Chettiyaragaram village is Rs 2,420 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Special Type - I.

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

The guideline value for S.K.Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft. This figure remained until the 2017 revision, which decreased the value to Rs 1,474 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,420 per sq.ft in 2024, reflecting a 10% rise from the previous year.

In summary, the changes from the 2017 revision to the 2023 revision amounted to a 49% increase. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The guideline register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing S.K.Nagar Main Road's 2024 figure above that median.

• S.K.Nagar: Rs 2,420 per sq.ft (2024)
• Sivarama Iyar Street: Rs 1,650 per sq.ft (2024)
• Singara Nagiker Street: Rs 1,650 per sq.ft (2024)
• School Street: Rs 1,650 per sq.ft (2024)
• Rajalakshmi Garden: Rs 1,650 per sq.ft (2024)
• Porur Garden Phase-III: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. 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 details.

Which Sub Registrar Office covers S.K.Nagar Main Road?

The Sub Registrar Office that covers S.K.Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Chettiyaragaram, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value is referred to for calculating the necessary fees, ensuring that both parties are aware of the financial commitments involved in the transaction. It is important to verify 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 Main Road?

The current guideline value of S.K.Nagar Main Road is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification for S.K.Nagar Main Road?

S.K.Nagar Main Road is classified as Residential Special Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties in S.K.Nagar Main Road?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Where can I find the Sub Registrar Office for S.K.Nagar Main Road?

The Sub Registrar Office for S.K.Nagar Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.