Guideline Value for SAKTHI NAGAR (PER)

Sakthi Nagar (Per) guideline value

The current guideline value of Sakthi Nagar (Per) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Sakthi Nagar (Per) has changed

The guideline value for Sakthi Nagar (Per) has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 brought the value back up to Rs 400 per sq.ft, and finally, in 2024, it increased to Rs 440 per sq.ft, marking a 10% rise from the previous year.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Sakthi Nagar (Per) below that median.

• Samidass Street (N): Rs 660 per sq.ft (2024)
• Sampath Nagar (Kr): Rs 440 per sq.ft (2024)
• Sangamithirai Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sanjeevi Nagar (Ward -17): Rs 660 per sq.ft (2024)
• Sankarandas Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sagunthapuram (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar (Per)?

The Sub Registrar Office that covers Sakthi Nagar (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sattamangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is registered at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Sakthi Nagar (Per)?

The current guideline value of Sakthi Nagar (Per) is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 440 per sq.ft in 2024, with various fluctuations in between, including a drop to Rs 268 per sq.ft in 2017.

What is the land classification for Sakthi Nagar (Per)?

Sakthi Nagar (Per) is classified as Residential Class II Type - II, which indicates its designation for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for property transactions in Sakthi Nagar (Per)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 at the rate of 7%.