Guideline Value for SAKTHI NAGAR 11th Street

SAKTHI NAGAR 11th Street guideline value

The current guideline value of SAKTHI NAGAR 11th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, with a land classification of Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 11th Street has changed

The guideline value for SAKTHI NAGAR 11th Street has undergone 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, marking a 10% rise. The value then saw a significant increase of 39% to Rs 400 per sq.ft in 2007. Following this, in 2012, the guideline value jumped dramatically to Rs 2,250 per sq.ft, reflecting a 463% increase. However, it decreased by 33% to Rs 1,507 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,250 per sq.ft, an increase of 49%. The most recent revision in 2024 sets the guideline value at Rs 2,500 per sq.ft, which is an 11% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. 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 value for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 11th Street above this median.

• SAKTHI NAGAR 10th 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 11th 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 cost for these fees to 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 precise calculations.

Which Sub Registrar Office covers SAKTHI NAGAR 11th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 11th 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 during property registration in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 11th Street?

The current guideline value of SAKTHI NAGAR 11th 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 seen several revisions, with the most recent increase being 11% from Rs 2,250 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024.

What are the guideline values for other streets in Nerkundram?

In Nerkundram, other streets such as SAKTHI NAGAR 10th Street and SAKTHI NAGAR 12th Street also have a guideline value of Rs 2,500 per sq.ft for 2024.

How is stamp duty calculated for properties in SAKTHI NAGAR 11th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,75,000 based on the current guideline value.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 11th Street?

The Sub Registrar Office for SAKTHI NAGAR 11th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.