Guideline Value for SAKTHI NAGAR 12th Street

SAKTHI NAGAR 12th Street guideline value

The current guideline value of SAKTHI NAGAR 12th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, falling under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 12th Street has changed

The guideline value for SAKTHI NAGAR 12th Street has experienced several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 260 per sq.ft. In 2003, it increased to Rs 287 per sq.ft, marking a 10% change. The value saw a further rise in 2007 to Rs 400 per sq.ft, which was a 39% increase. The 2012 revision brought the value up to Rs 2,250 per sq.ft, reflecting a significant increase of 463%. However, the 2017 revision saw a decrease to Rs 1,507 per sq.ft, a drop of 33%. The value then rose again in 2023 to Rs 2,250 per sq.ft, and finally, the current revision in 2024 sets it at Rs 2,500 per sq.ft, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures available for the revisions in years other than those specified.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a guideline value 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 12th Street above this median.

• SAKTHI NAGAR 11th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 13th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 10th 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 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be 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. Please 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 more details.

Which Sub Registrar Office covers SAKTHI NAGAR 12th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 12th 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 is an essential factor in the registration process when buying or selling property in Nerkundram. It serves as a baseline for calculating the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is documented accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 12th Street?

The current guideline value of SAKTHI NAGAR 12th 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 12th Street?

SAKTHI NAGAR 12th Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering SAKTHI NAGAR 12th 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 12th Street?

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