Guideline Value for SAKTHI NAGAR 15th Street

SAKTHI NAGAR 15th Street guideline value

The current guideline value of SAKTHI NAGAR 15th 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 falls under the Residential Class III Type - II land classification.

How the guideline value of SAKTHI NAGAR 15th Street has changed

The guideline value for SAKTHI NAGAR 15th Street has seen 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 further increased to Rs 400 per sq.ft in 2007, which was a 39% increase from the previous revision. In 2012, the guideline value rose significantly to Rs 2,250 per sq.ft, reflecting a substantial 463% increase. However, this value decreased to Rs 1,507 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value saw a notable increase to Rs 2,250 per sq.ft, which represents a 49% rise. 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 the years not mentioned in the register for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value 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, making the guideline value of SAKTHI NAGAR 15th Street above this median.

• SAKTHI NAGAR 14th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 16th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 13th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 17th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 12th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 18th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the 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, totaling Rs 2,25,000. It is important to note that 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 details.

Which Sub Registrar Office covers SAKTHI NAGAR 15th Street?

The SAKTHI NAGAR 15th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the established values in the area.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 15th Street?

The current guideline value of SAKTHI NAGAR 15th 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 land classification for SAKTHI NAGAR 15th Street?

SAKTHI NAGAR 15th Street falls under the Residential Class III Type - II land classification.

What are the stamp duty and registration fees for property in SAKTHI NAGAR 15th 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 Sub Registrar Office covers SAKTHI NAGAR 15th Street?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 15th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.