Guideline Value for SAKTHI NAGAR 17th Street

SAKTHI NAGAR 17th Street guideline value

The current guideline value of SAKTHI NAGAR 17th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 17th Street has changed

The guideline value for SAKTHI NAGAR 17th 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. By 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 39%. The 2012 revision saw the value rise to Rs 2,250 per sq.ft, a remarkable increase of 463%. However, by 2017, the value decreased to Rs 1,507 per sq.ft, indicating a drop of 33%. In 2023, the value was Rs 2,250 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,500 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Nerkundram

In Nerkundram village, 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, with a median value of Rs 2,200 per sq.ft. The guideline value for SAKTHI NAGAR 17th Street is above this median.

• SAKTHI NAGAR 16th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 18th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 15th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 19th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 14th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 17th 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, bringing the total fees to 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 17th Street?

The SAKTHI NAGAR 17th Street falls under 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 when registering property transactions in Nerkundram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in the transaction process and aids in the proper documentation of property ownership.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 17th Street?

The current guideline value of SAKTHI NAGAR 17th 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 registration fee for property in SAKTHI NAGAR 17th Street?

The registration fee is calculated at 2% of the guideline value. For a plot valued at Rs 25,00,000, the registration fee would be Rs 50,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 17th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets have the same guideline value?

Other streets in Nerkundram, such as SAKTHI NAGAR 16th Street, SAKTHI NAGAR 18th Street, SAKTHI NAGAR 15th Street, SAKTHI NAGAR 19th Street, SAKTHI NAGAR 14th Street, and SAKTHI NAGAR 1st Cross Street, also have a guideline value of Rs 2,500 per sq.ft for 2024.