Guideline Value for SAKTHI NAGAR 9th Street

SAKTHI NAGAR 9th Street guideline value

The current guideline value of SAKTHI NAGAR 9th 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 is classified as Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 9th Street has changed

The guideline value for SAKTHI NAGAR 9th Street has seen several revisions over the years. 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 significant increase of 39%. Following this, the value surged to Rs 2,250 per sq.ft in 2012, an impressive increase of 463%. However, there was a decrease to Rs 1,507 per sq.ft in 2017, which represented a decline of 33%. In 2023, the value was revised to Rs 2,250 per sq.ft, and the latest revision in 2024 brought it to Rs 2,500 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. The register has no figure for SAKTHI NAGAR 9th Street for the years not mentioned in the revisions.

Guideline values in Nerkundram

In Nerkundram, there are 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 is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 9th Street's value above this median.

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

Stamp duty and registration fee for property in SAKTHI NAGAR 9th 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 fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers SAKTHI NAGAR 9th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 9th 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 in property transactions in Nerkundram. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers must consider this value when negotiating the sale price of a property.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 9th Street?

The current guideline value of SAKTHI NAGAR 9th 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 9th 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 is responsible for SAKTHI NAGAR 9th Street?

The Virugambakkam Sub Registrar Office is responsible for SAKTHI NAGAR 9th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of SAKTHI NAGAR 9th Street?

SAKTHI NAGAR 9th Street is classified as Residential Class III Type - II according to the guideline value register.