Guideline Value for SAKTHI NAGAR 2ND STREET. CHOOLAIMEDU

Sakthi Nagar 2nd Street. Choolaimedu guideline value

The current guideline value of Sakthi Nagar 2nd Street. Choolaimedu is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Sakthi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,300 per sq.ft. This increased significantly to Rs 5,300 per sq.ft in 2012, followed by a decrease to Rs 3,551 per sq.ft in 2017. From 2017 to 2023, the value saw a substantial increase to Rs 5,300 per sq.ft, and the most recent revision in 2024 has set the value at Rs 5,800 per sq.ft, marking a 9% increase from the previous year.

To summarize the changes: from 2007 to 2012, there was a remarkable increase of 308%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 346%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, which is the same as the current value for Sakthi Nagar 2nd Street.

• Sakthi Nagar 1st Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar 3rd Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar 4th Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar 5th Street: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar. Kodambakkam: Rs 7,100 per sq.ft (2024)
• Samayapurathamman Street: Rs 5,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 5,800 per sq.ft, the guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that the 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 2nd Street. Choolaimedu?

The Sub Registrar Office that covers Sakthi Nagar 2nd Street. Choolaimedu is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of Sakthi Nagar 2nd Street. Choolaimedu is Rs 5,800 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 1,300 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 346% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which Sub Registrar Office covers Sakthi Nagar 2nd Street. Choolaimedu?

The Kodambakkam Sub Registrar Office covers Sakthi Nagar 2nd Street. Choolaimedu, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

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

The land classification for Sakthi Nagar 2nd Street. Choolaimedu is Residential Class I Type - I.