Guideline Value for SAKTHI AUENUE

Sakthi Auenue guideline value

The current guideline value of Sakthi Auenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthi Auenue has changed

Over the years, the guideline value of Sakthi Auenue has seen significant changes. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, the value dropped by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision raised it to Rs 2,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with the median being Rs 2,200 per sq.ft. The guideline value for Sakthi Auenue is equal to this median.

• Sairam Nagar / All Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Auenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Sakthi Auenue?

The Sub Registrar Office that covers Sakthi Auenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to consider this value, as it directly impacts the costs associated with the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Sakthi Auenue?

The current guideline value of Sakthi Auenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over this period.

What is the registration office for Sakthi Auenue?

The registration office for Sakthi Auenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Sakthi Auenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

What is the land classification for Sakthi Auenue?

The land classification for Sakthi Auenue is Residential Class I Type - I, indicating its designation for residential use.