Guideline Value for SAKTHI GARDEN

Sakthi Garden guideline value

The current guideline value of Sakthi Garden, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Sakthi Garden has changed

The guideline value for Sakthi Garden has undergone several revisions over the years. The earliest recorded figure is from 2003, when it was Rs 83 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2007, marking a rise of 864%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a 213% increase from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another rise to the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2003 to 2024, the guideline value has increased by 3,273%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Sakthi Garden's current guideline value is below this median.

• Sakthi Garden 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Sakthi Garden 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Sakthi Garden 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Sakthi Garden 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Sakthi Garden Main Road: Rs 2,800 per sq.ft (2024)
• Sakthi Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Garden?

The Sub Registrar Office covering Sakthi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Okkiyamthuraipakkam. It serves as a reference for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, buyers and sellers must consider the guideline value to ensure compliance with local regulations. This value is used to calculate the fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sakthi Garden?

The current guideline value of Sakthi Garden is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 83 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 3,273%.

What is the land classification of Sakthi Garden?

Sakthi Garden falls under the Residential Class II Type - II land classification.

What are the stamp duty and registration fees for properties in Sakthi Garden?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Sakthi Garden?

The Neelankarai Sub Registrar Office is responsible for handling registrations for Sakthi Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.