Guideline Value for SAKTHI NAGAR 19th Street

SAKTHI NAGAR 19th Street guideline value

The current guideline value of SAKTHI NAGAR 19th 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 19th Street has changed

The guideline value for SAKTHI NAGAR 19th Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 260 per sq.ft. This increased to Rs 287 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. The value then jumped significantly to Rs 2,250 per sq.ft in 2012, which was a notable increase of 463% from the previous revision. However, it dropped to Rs 1,507 per sq.ft in 2017, reflecting a decrease of 33%.

In the following years, the guideline value rose again, reaching Rs 2,250 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has set the value at Rs 2,500 per sq.ft, marking an 11% increase from the previous year. The register has no figures for the years not mentioned above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with 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, placing SAKTHI NAGAR 19th Street above this median.

• SAKTHI NAGAR 18th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 1st Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 17th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 16th 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 19th Street

For a 1,000 sq.ft plot at the current rate 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SAKTHI NAGAR 19th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 19th 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 the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 19th Street?

The current guideline value of SAKTHI NAGAR 19th 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 are the other streets with the same guideline value in Nerkundram?

Other streets in Nerkundram with the same guideline value of Rs 2,500 per sq.ft in 2024 include SAKTHI NAGAR 18th Street, SAKTHI NAGAR 1st Cross Street, SAKTHI NAGAR 17th Street, SAKTHI NAGAR 16th Street, SAKTHI NAGAR 15th Street, and SAKTHI NAGAR 14th Street.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It is the higher of the guideline value and the sale price that is taken into account for these calculations.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 19th Street?

The Sub Registrar Office for SAKTHI NAGAR 19th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.