Guideline Value for SAKTHI NAGAR 5th Street

SAKTHI NAGAR 5th Street guideline value

The current guideline value of SAKTHI NAGAR 5th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of SAKTHI NAGAR 5th Street has changed

The guideline value for SAKTHI NAGAR 5th Street has seen several revisions over the years. In 2002, the value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then a dramatic increase to Rs 2,250 per sq.ft in 2012. However, it dropped to Rs 1,507 per sq.ft in 2017 before climbing again to Rs 2,250 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 11%. The period from 2007 to 2012 saw a decrease of 33%, and the rise from 2002 to 2003 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 862%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 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, placing SAKTHI NAGAR 5th Street above this median.

• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 8th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 5th 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, 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 or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers SAKTHI NAGAR 5th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit this link.

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

The guideline value is a critical factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and fair.

When buying or selling property, the guideline value is used to calculate applicable fees, such as stamp duty and registration fees. This ensures that all parties involved are aware of the financial obligations tied to the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 5th Street?

The current guideline value of SAKTHI NAGAR 5th 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 over the years, from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862% since 2002.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft for the year 2024, with SAKTHI NAGAR 5th Street's value being above this median.

What are the stamp duty and registration fees for property in SAKTHI NAGAR 5th 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 guideline value.

Which office handles registrations for SAKTHI NAGAR 5th Street?

The Virugambakkam Sub Registrar Office handles registrations for SAKTHI NAGAR 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.