Guideline Value for SAKTHI NAGAR 8th Street

SAKTHI NAGAR 8th Street guideline value

The current guideline value of SAKTHI NAGAR 8th 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 8th Street has changed

Over the years, the guideline value of SAKTHI NAGAR 8th Street has seen significant changes. The register indicates that in 2002, the guideline value was Rs 260 per sq.ft, which 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, reflecting a 39% increase. Following this, the value surged to Rs 2,250 per sq.ft in 2012, a remarkable increase of 463%. However, it dropped to Rs 1,507 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 2,250 per sq.ft in 2023, and finally reached Rs 2,500 per sq.ft in 2024, an 11% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register. 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 the village is Rs 2,200 per sq.ft, and SAKTHI NAGAR 8th Street's 2024 figure is above this median.

• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 9th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th 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 Extension: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the 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. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 8th Street?

The Sub Registrar Office covering SAKTHI NAGAR 8th 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 an important factor in the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 8th Street?

The current guideline value of SAKTHI NAGAR 8th 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 are the stamp duty and registration fees for properties in SAKTHI NAGAR 8th Street?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers SAKTHI NAGAR 8th Street?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 8th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of SAKTHI NAGAR 8th Street?

SAKTHI NAGAR 8th Street is classified as Residential Class III Type - II according to the local guidelines.