Guideline Value for SAKTHI NAGAR 4th Street

SAKTHI NAGAR 4th Street guideline value

The current guideline value of SAKTHI NAGAR 4th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 4th Street has changed

The guideline value for SAKTHI NAGAR 4th Street has seen several revisions over the years. Starting from Rs 260 per sq.ft in 2002, it increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, an increase of 39%. Following this, the guideline value surged to Rs 2,250 per sq.ft in 2012, reflecting a substantial 463% increase. However, it dropped to Rs 1,507 per sq.ft in 2017, which was a decrease of 33%. The value climbed again to Rs 2,250 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,500 per sq.ft, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures available for the years not mentioned in the revisions for this street.

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 in 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 4th Street above this median.

• SAKTHI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 4th 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, bringing the total to Rs 2,25,000. 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 more details.

Which Sub Registrar Office covers SAKTHI NAGAR 4th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 4th 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 4th Street?

The current guideline value of SAKTHI NAGAR 4th 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 for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, with SAKTHI NAGAR 4th Street being above this median at Rs 2,500 per sq.ft.

What are the stamp duty and registration fees for a property in SAKTHI NAGAR 4th Street?

For a 1,000 sq.ft property, the total guideline value is Rs 25,00,000, leading to a stamp duty of Rs 1,75,000 and a registration fee of Rs 50,000, totaling Rs 2,25,000.

Where is the Sub Registrar Office located for SAKTHI NAGAR 4th Street?

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