Guideline Value for SAKTHI NAGAR 24th Street

SAKTHI NAGAR 24th Street guideline value

The current guideline value of SAKTHI NAGAR 24th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 24th Street has changed

The guideline value for SAKTHI NAGAR 24th Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 260 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value continued to grow significantly, reaching Rs 400 per sq.ft in 2007, which was an increase of 39%. The 2012 revision saw a substantial jump to Rs 2,250 per sq.ft, reflecting a 463% increase. However, in 2017, the value decreased to Rs 1,507 per sq.ft, which was a decline of 33%. The 2023 revision brought the value back up to Rs 2,250 per sq.ft, and the latest revision in 2024 set it at Rs 2,500 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value for SAKTHI NAGAR 24th Street has increased by 862%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO that carry a 2024 guideline value 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, which means that SAKTHI NAGAR 24th Street's 2024 figure is above this median.

• SAKTHI NAGAR 23rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 25th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 22nd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 21st Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 20th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 24th 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, while the registration fee at 2% would be Rs 50,000. Together, these fees would total 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 24th Street?

The SAKTHI NAGAR 24th 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 more details.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor in the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented correctly and legally.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers should be aware of the current guideline value to ensure they are making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 24th Street?

The current guideline value of SAKTHI NAGAR 24th 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 over the years, starting from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862%.

What is the land classification for SAKTHI NAGAR 24th Street?

SAKTHI NAGAR 24th Street is classified as Residential Class III Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles the registration for SAKTHI NAGAR 24th Street?

The Virugambakkam Sub Registrar Office handles the registration for SAKTHI NAGAR 24th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.