Guideline Value for SAKTHI NAGAR - Patel Road

SAKTHI NAGAR - Patel Road guideline value

The current guideline value for SAKTHI NAGAR - Patel Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Nerkundram village under the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of SAKTHI NAGAR - Patel Road has changed

The guideline value for SAKTHI NAGAR - Patel Road has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 500 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and a further increase to Rs 2,750 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

Nerkundram village contains 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing SAKTHI NAGAR - Patel Road above this median value.

• SAKTHI NAGAR Extension: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 9th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 8th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR - Patel Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is 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 SAKTHI NAGAR - Patel Road?

The Sub Registrar Office that covers SAKTHI NAGAR - Patel Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value for SAKTHI NAGAR - Patel Road?

The current guideline value for SAKTHI NAGAR - Patel Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, which is a total increase of 450% over the years.

What is the stamp duty for property in SAKTHI NAGAR - Patel Road?

The stamp duty for property in SAKTHI NAGAR - Patel Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for SAKTHI NAGAR - Patel Road?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for SAKTHI NAGAR - Patel Road?

SAKTHI NAGAR - Patel Road is classified as Residential Class III Type - I according to the guideline value register.