Guideline Value for S.K.NAGAR

S.K.Nagar guideline value

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

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

The guideline value for S.K.Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, an increase from Rs 2,200 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,474 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 2,200 per sq.ft, indicating a decrease of -33% from the 2012 figure to the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. The register has no 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's 2024 figure above that median.

• S.K.Nagar Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, while the registration fee at 2% would be Rs 48,400, bringing the total costs together to Rs 2,17,800. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.K.Nagar?

The S.K.Nagar area is covered by 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chettiyaragaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Buyers should be aware of the current guideline value to ensure they are prepared for the associated costs.

Frequently asked questions

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

The current guideline value of S.K.Nagar 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 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, with notable increases in 2023 and 2024 revisions.

What is the median guideline value in Chettiyaragaram?

The median guideline value for streets in Chettiyaragaram is Rs 2,200 per sq.ft, with S.K.Nagar's value being above this median.

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

The stamp duty for a property in S.K.Nagar is 7%, while the registration fee is 2%. These are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for S.K.Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for S.K.Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.