Guideline Value for SAKTHI NAGAR 22nd Street

SAKTHI NAGAR 22nd Street guideline value

The current guideline value of SAKTHI NAGAR 22nd 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 it falls under the Residential Class III Type - II land classification.

How the guideline value of SAKTHI NAGAR 22nd Street has changed

The guideline value for SAKTHI NAGAR 22nd Street has undergone several revisions since 2002. The earliest recorded figure is Rs 260 per sq.ft in 2002, which increased to Rs 287 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 400 per sq.ft in 2007, and then a remarkable jump to Rs 2,250 per sq.ft in 2012. However, it decreased to Rs 1,507 per sq.ft in 2017 before climbing to Rs 2,250 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2002 to 2003, followed by a 39% rise from 2003 to 2007. The value surged by 463% from 2007 to 2012, but then dropped by 33% from 2012 to 2017. A substantial increase of 49% occurred from 2017 to 2023, and finally, the value rose by 11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 862%.

Guideline values in Nerkundram

Nerkundram village has a total of 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 for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 22nd Street above this median.

• SAKTHI NAGAR 21st Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 23rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 20th 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 2nd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 22nd 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 is charged at 7%, which totals Rs 1,75,000, and the registration fee is 2%, amounting to Rs 50,000. Together, the total cost for stamp duty and registration fee would be 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 the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers SAKTHI NAGAR 22nd Street?

The SAKTHI NAGAR 22nd Street is covered by 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 during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

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 and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for SAKTHI NAGAR 22nd Street?

The current guideline value for SAKTHI NAGAR 22nd Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 862%.

What is the stamp duty rate applicable for property in SAKTHI NAGAR 22nd Street?

The stamp duty rate for property in SAKTHI NAGAR 22nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 22nd Street?

The Sub Registrar Office covering SAKTHI NAGAR 22nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values for other streets in Nerkundram?

Other streets in Nerkundram have guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft, with SAKTHI NAGAR 22nd Street being above the median value of Rs 2,200 per sq.ft.