Guideline Value for SAKTHI NAGAR 13th Street

SAKTHI NAGAR 13th Street guideline value

The current guideline value for SAKTHI NAGAR 13th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 13th Street has changed

The guideline value for SAKTHI NAGAR 13th Street has undergone several revisions over the years. The earliest recorded value was Rs 260 per sq.ft in 2002, which increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, representing a 39% change. By 2012, the value reached Rs 2,250 per sq.ft, reflecting a substantial increase of 463% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft, a decline of 33%.

In 2023, the guideline value was revised to Rs 2,250 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, an 11% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Nerkundram

In Nerkundram, there are 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 in this area is Rs 2,200 per sq.ft, making the current value of SAKTHI NAGAR 13th Street above this median.

• SAKTHI NAGAR 12th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 14th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 11th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 15th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 10th 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 13th 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 amount to Rs 1,75,000, while the registration fee at 2% would be Rs 50,000, bringing the total cost 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 13th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 13th 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 a crucial factor in property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes.

When a property is sold, the buyer and seller must consider the guideline value during registration. This value is used to calculate the necessary fees, which can significantly impact the overall cost of the transaction. It is advisable for buyers and sellers to be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for SAKTHI NAGAR 13th Street?

The current guideline value for SAKTHI NAGAR 13th 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 from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862% over the years.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, with SAKTHI NAGAR 13th Street's value above this median.

What are the stamp duty and registration fees for a property in SAKTHI NAGAR 13th 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 office handles registrations for SAKTHI NAGAR 13th Street?

The Virugambakkam Sub Registrar Office handles registrations for SAKTHI NAGAR 13th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.