Guideline Value for SAKTHI NAGAR 21st Street

SAKTHI NAGAR 21st Street guideline value

The current guideline value of SAKTHI NAGAR 21st 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 21st Street has changed

The guideline value for SAKTHI NAGAR 21st Street has seen several revisions over the years. In 2002, the guideline value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007. The value then rose dramatically to Rs 2,250 per sq.ft in 2012, but it decreased to Rs 1,507 per sq.ft in 2017. The most recent figures show an increase to Rs 2,250 per sq.ft in 2023 and a further rise to Rs 2,500 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +862%. The guideline value rose by +10% from 2002 to 2003, +39% from 2003 to 2007, +463% from 2007 to 2012, but then decreased by -33% from 2012 to 2017. After that, it increased by +49% from 2017 to 2023, and finally, there was an increase of +11% from 2023 to 2024.

Guideline values in Nerkundram

Nerkundram 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 as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for SAKTHI NAGAR 21st Street above this median.

• SAKTHI NAGAR 20th 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 24th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 25th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 1st Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 21st 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, resulting in a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers SAKTHI NAGAR 21st Street?

The SAKTHI NAGAR 21st Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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 that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction reflects the official value set by the registration department.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 21st Street?

The current guideline value of SAKTHI NAGAR 21st 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, with various increases and one decrease over the years.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft as of 2024, with SAKTHI NAGAR 21st Street's value above this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is typically 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for SAKTHI NAGAR 21st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.