Guideline Value for SAKTHI NAGAR 18th Street

SAKTHI NAGAR 18th Street guideline value

The current guideline value of SAKTHI NAGAR 18th 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 18th Street has changed

The guideline value for SAKTHI NAGAR 18th Street has seen significant changes 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 then rose to Rs 400 per sq.ft in 2007, an increase of 39%. Following that, the guideline value surged to Rs 2,250 per sq.ft in 2012, reflecting a remarkable 463% increase. However, it dropped to Rs 1,507 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 2,250 per sq.ft in 2023, and finally reached Rs 2,500 per sq.ft in 2024, representing an 11% increase 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.

Guideline values in Nerkundram

Nerkundram village 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. The median guideline value in this area is Rs 2,200 per sq.ft, positioning SAKTHI NAGAR 18th Street above this median.

• SAKTHI NAGAR 17th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 19th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 16th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 15th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 14th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 18th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total 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, bringing the total to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SAKTHI NAGAR 18th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 18th Street is 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 in property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that all transactions comply with the legal requirements.

During the registration process, the guideline value is used to assess the applicable duties and fees. Buyers must be aware that the duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 18th Street?

The current guideline value of SAKTHI NAGAR 18th 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 increased from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 862% over the years.

What are the stamp duty and registration fees for property in SAKTHI NAGAR 18th Street?

For a 1,000 sq.ft property at the current guideline value, the total 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 18th Street?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 18th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of SAKTHI NAGAR 18th Street?

SAKTHI NAGAR 18th Street is classified as Residential Class III Type - II.