Guideline Value for SAKTHI NAGAR 2ND CROSS STREET

Sakthi Nagar 2nd Cross Street guideline value

The current guideline value of Sakthi Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sakthi Nagar 2nd Cross Street has changed

The guideline value for Sakthi Nagar 2nd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 280 per sq.ft. It increased to Rs 346 per sq.ft in 2003, marking a 24% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, which was a 160% increase. In 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of 33%. The 2017 revision set the value at Rs 1,675 per sq.ft, a 49% increase from the previous year. The 2023 revision marked another rise to Rs 2,500 per sq.ft, before reaching the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Throughout these revisions, there are no figures available for this street in the years not mentioned. Overall, from 2002 to 2024, the guideline value has increased by 882%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Sakthi Nagar 2nd Cross Street's current guideline value is below this median.

• Sakthi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Sairam Street: Rs 3,100 per sq.ft (2024)
• Sannadhi Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost would be Rs 2,47,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sakthi Nagar 2nd Cross Street is the Chennai South Joint II 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 further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Ramapuram. 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 recorded accurately in the official records.

Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions. It is essential to check the latest guideline value before proceeding with any property transaction to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sakthi Nagar 2nd Cross Street?

The current guideline value of Sakthi Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Sakthi Nagar 2nd Cross Street?

The land classification for Sakthi Nagar 2nd Cross Street is Residential Class II Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sakthi Nagar 2nd Cross Street is 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 this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.