Guideline Value for SAKTHI NAGAR 3rd Street

SAKTHI NAGAR 3rd Street guideline value

The current guideline value of SAKTHI NAGAR 3rd Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 3rd Street has changed

Over the years, the guideline value for SAKTHI NAGAR 3rd Street has seen significant changes. In 2002, the guideline value was Rs 260 per sq.ft. This figure increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 400 per sq.ft in 2007, which was a substantial increase of 39%. Following this, the value surged to Rs 2,250 per sq.ft in 2012, reflecting an impressive 463% change. However, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft, showing a decline of 33%. The guideline value then increased again to Rs 2,250 per sq.ft in 2023, with a 49% rise, and finally reached Rs 2,500 per sq.ft in 2024, an increase of 11%.

There are no figures available for the revisions in the years not listed above. The overall change from 2002 to 2024 is an increase of 862%.

Guideline values in Nerkundram

In Nerkundram, there are 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, making the 2024 value of SAKTHI NAGAR 3rd Street above the median.

• SAKTHI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 2nd 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 3rd Street

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

Which Sub Registrar Office covers SAKTHI NAGAR 3rd Street?

The SAKTHI NAGAR 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 3rd Street?

The current guideline value of SAKTHI NAGAR 3rd 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 from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862% over this period.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, with SAKTHI NAGAR 3rd Street's 2024 value being above this median.

What are the stamp duty and registration fees for SAKTHI NAGAR 3rd Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000 based on the current guideline value.

Where is the Sub Registrar Office for SAKTHI NAGAR 3rd Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering SAKTHI NAGAR 3rd Street.