Guideline Value for SAKTHI NAGAR 14th Street

SAKTHI NAGAR 14th Street guideline value

The current guideline value of SAKTHI NAGAR 14th 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 14th Street has changed

The guideline value for SAKTHI NAGAR 14th Street has seen several revisions over the years. The earliest recorded value is from 2002, which was Rs 260 per sq.ft. This increased to Rs 287 per sq.ft in 2003, representing a 10% rise. In 2007, the value surged to Rs 400 per sq.ft, marking a significant increase of 39%. The 2012 revision saw a substantial jump to Rs 2,250 per sq.ft, reflecting a 463% increase. However, in 2017, the value decreased to Rs 1,507 per sq.ft, a decline of 33%. The guideline value then increased to Rs 2,250 per sq.ft in 2023, before reaching the current figure of Rs 2,500 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. Notably, there are no recorded figures for SAKTHI NAGAR 14th Street in the revisions for the years not mentioned in this overview.

Guideline values in Nerkundram

Nerkundram 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 as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 14th Street's current value above the 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 15th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 16th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 17th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 14th 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, and the registration fee at 2% would be Rs 50,000, totaling 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 14th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 14th 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

When buying or selling property in Nerkundram, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for calculating these costs, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 14th Street?

The current guideline value of SAKTHI NAGAR 14th 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 other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same guideline value of Rs 2,500 per sq.ft include SAKTHI NAGAR 11th, 12th, 13th, 15th, 16th, and 17th Streets.

What fees are associated with buying property in SAKTHI NAGAR 14th Street?

When buying property in SAKTHI NAGAR 14th Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%, which totals to Rs 2,25,000 for a 1,000 sq.ft plot at the current guideline value.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 14th Street?

The Sub Registrar Office for SAKTHI NAGAR 14th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.