Guideline Value for SAKTHI NAGAR 7th Street

SAKTHI NAGAR 7th Street guideline value

The current guideline value of SAKTHI NAGAR 7th 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 7th Street has changed

The guideline value for SAKTHI NAGAR 7th Street has seen several revisions over the years. The earliest recorded value is from 2002, which was Rs 260 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking a 10% rise. Following this, the value rose to Rs 400 per sq.ft in 2007, reflecting a significant increase of 39%. In 2012, the value was recorded at Rs 2,250 per sq.ft, a substantial increase of 463% from the previous revision. However, this value decreased to Rs 1,507 per sq.ft in 2017, indicating a decline of 33%.

In the most recent revisions, the value increased to Rs 2,250 per sq.ft in 2023, followed by the current value of Rs 2,500 per sq.ft in 2024, which is an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures for revisions in the years not listed above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for SAKTHI NAGAR 7th Street is above this median.

• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 8th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 9th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 7th 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SAKTHI NAGAR 7th Street?

The SAKTHI NAGAR 7th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Nerkundram. When buying or selling property, this value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 7th Street?

The current guideline value of SAKTHI NAGAR 7th 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 this period.

What is the land classification for SAKTHI NAGAR 7th Street?

SAKTHI NAGAR 7th Street is classified as Residential Class III Type - II.

Where can I find the registration office for SAKTHI NAGAR 7th Street?

The registration office for SAKTHI NAGAR 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in SAKTHI NAGAR 7th Street?

Stamp duty for properties in SAKTHI NAGAR 7th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.