Guideline Value for SAKTHI NAGAR 10th Street

SAKTHI NAGAR 10th Street guideline value

The current guideline value of SAKTHI NAGAR 10th 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 10th Street has changed

The guideline value for SAKTHI NAGAR 10th Street has seen several revisions over the years. The earliest recorded figure is from 2002, when the value was Rs 260 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value then rose by 39% to Rs 400 per sq.ft in 2007. Following this, the value surged significantly to Rs 2,250 per sq.ft in 2012, a remarkable increase of 463%. However, it dropped by 33% to Rs 1,507 per sq.ft in 2017. From 2017 to 2023, the value increased by 49% to Rs 2,250 per sq.ft, and in the latest revision for 2024, the value rose by 11% to Rs 2,500 per sq.ft.

There are no figures available for the years not mentioned in the register for this street. 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 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 10th Street above this median.

• SAKTHI NAGAR 11th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 12th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 13th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 14th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 15th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 16th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 10th 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 10th Street?

The SAKTHI NAGAR 10th Street is covered by 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 is an essential factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 10th Street?

The current guideline value of SAKTHI NAGAR 10th 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, marking an overall increase of 862% over the years.

What is the land classification for SAKTHI NAGAR 10th Street?

SAKTHI NAGAR 10th Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in this area?

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 office handles registrations for SAKTHI NAGAR 10th Street?

The Virugambakkam Sub Registrar Office handles registrations for SAKTHI NAGAR 10th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.