Guideline Value for SAKTHI NAGAR 1st STREET

SAKTHI NAGAR 1st STREET guideline value

The current guideline value of SAKTHI NAGAR 1st STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of SAKTHI NAGAR 1st STREET has changed

The guideline value for SAKTHI NAGAR 1st STREET has seen significant changes over the years. In 2003, the value was Rs 234 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 413%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a substantial increase of 317% from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, showing a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently, it reached Rs 5,500 per sq.ft in 2024, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2250%. The register has no figure for this street in 2002.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing SAKTHI NAGAR 1st STREET above this median.

• SAKTHI NAGAR 2nd STREET: Rs 5,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd STREET: Rs 5,500 per sq.ft (2024)
• SAKTHI NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• Sakthi Nagar: Rs 5,500 per sq.ft (2024)
• SAKTHI NAGAR 5th STREET: Rs 5,000 per sq.ft (2024)
• SAKTHI NAGAR 6th STREET: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SAKTHI NAGAR 1st STREET?

The Sub Registrar Office that covers SAKTHI NAGAR 1st STREET 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 further assistance.

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

The guideline value is an essential factor in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is registered, the authorities use the guideline value to calculate the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 1st STREET?

The current guideline value of SAKTHI NAGAR 1st STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 234 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, with various revisions in between, including a decline in 2017 and subsequent increases.

What are the guideline values of other streets in Okkiyamthuraipakkam?

Other streets in Okkiyamthuraipakkam have varying guideline values, with SAKTHI NAGAR 2nd, 3rd, and 4th STREETS all at Rs 5,500 per sq.ft, while SAKTHI NAGAR 5th and 6th STREETS are at Rs 5,000 per sq.ft.

What fees are associated with buying property in SAKTHI NAGAR 1st STREET?

When buying property in SAKTHI NAGAR 1st STREET, buyers should consider the stamp duty at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for SAKTHI NAGAR 1st STREET?

The Neelankarai Sub Registrar Office handles the registration for SAKTHI NAGAR 1st STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.