Guideline Value for SACHIN NAGAR EXTENSION

Sachin Nagar Extension guideline value

The current guideline value for Sachin Nagar Extension in Karunakacherry village is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Salavakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Sachin Nagar Extension has changed

Looking at the revisions, the guideline value for Sachin Nagar Extension was Rs 100 per sq.ft in both the 2023 and 2024 revisions. Prior to that, in the 2017 revision, the value was Rs 67 per sq.ft, which marked an increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also had a guideline value of Rs 100 per sq.ft, which indicates a decrease of 33% from 2012 to 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karunakacherry

In Karunakacherry, there are 10 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with a median of Rs 100 per sq.ft. Sachin Nagar Extension's 2024 figure is equal to this median.

• Sachin Nagar: Rs 100 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• New Laural Nagar: Rs 151 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 150 per sq.ft (2024)
• Subiksha Gardens: Rs 100 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sachin Nagar Extension

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 1,00,000. The stamp duty would be calculated at 7%, amounting to Rs 7,000, while the registration fee at 2% would come to Rs 2,000. Together, the total cost for these fees would be Rs 9,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Sachin Nagar Extension?

The Sachin Nagar Extension is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Karunakacherry. It is used as a basis for calculating the stamp duty and registration fees that buyers must pay during the registration process. This ensures that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value for Sachin Nagar Extension?

The current guideline value for Sachin Nagar Extension is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 100 per sq.ft in both 2023 and 2024, an increase from Rs 67 per sq.ft in 2017.

What is the classification of land in Sachin Nagar Extension?

Sachin Nagar Extension is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sachin Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7%.