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Guideline Value

Corporate

Guideline Value for SAKTHI NAGAR 1st Street

₹2500/sq.ft.

The guideline value for Sakthi Nagar 1st Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - II
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹287 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹260 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sakthi Nagar 1st Street

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SAKTHI NAGAR 1st Street guideline value

The current guideline value of SAKTHI NAGAR 1st Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 1st Street has changed

The guideline value for SAKTHI NAGAR 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, and then jumped to Rs 2,250 per sq.ft in 2012. However, it decreased to Rs 1,507 per sq.ft in 2017. The value then increased to Rs 2,250 per sq.ft in 2023, before reaching the current value of Rs 2,500 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision reflects an increase of 11%. The highest increase occurred between 2007 and 2012, where the value rose by 463%. Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures available for the revisions in years not listed.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, and the 2024 figure for SAKTHI NAGAR 1st Street is above this median.

Stamp duty and registration fee for property in SAKTHI NAGAR 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost for these fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 1st Street?

The Sub Registrar Office that covers SAKTHI NAGAR 1st Street 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 crucial factor during the registration of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in Nerkundram, it is essential to be aware of the current guideline value to avoid any discrepancies during the registration process. This value helps both buyers and sellers understand the expected costs associated with property transactions.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 1st Street?

The current guideline value of SAKTHI NAGAR 1st Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862% over the years.

What is the land classification of SAKTHI NAGAR 1st Street?

SAKTHI NAGAR 1st Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 1st Street?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in SAKTHI NAGAR 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,75,000.