Guideline Value for SAKTHI NAGAR 20th Street

SAKTHI NAGAR 20th Street guideline value

The current guideline value of SAKTHI NAGAR 20th 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 20th Street has changed

The guideline value for SAKTHI NAGAR 20th 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. Following this, the value rose to Rs 400 per sq.ft in 2007, showing a significant increase of 39%. By 2012, the guideline value had jumped to Rs 2,250 per sq.ft, reflecting a remarkable 463% increase from the previous revision.

In 2017, the value decreased to Rs 1,507 per sq.ft, representing a 33% decline. The 2023 revision set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised the guideline value to Rs 2,500 per sq.ft, which is an 11% increase from the previous year. The register has no figure for this street in the years not listed.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values for 2024 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, placing SAKTHI NAGAR 20th Street above this median.

• SAKTHI NAGAR 21st Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 22nd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 23rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 1st Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 24th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 25th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 20th 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SAKTHI NAGAR 20th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 20th 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

The guideline value is a critical 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 used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This value helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 20th Street?

The current guideline value of SAKTHI NAGAR 20th 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 the years.

What is the land classification for SAKTHI NAGAR 20th Street?

SAKTHI NAGAR 20th Street falls under the Residential Class III Type - II land classification.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 20th Street?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 20th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in SAKTHI NAGAR 20th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.