Guideline Value for SAKTHI NAGAR 3rd Cross Street

SAKTHI NAGAR 3rd Cross Street guideline value

The current guideline value of SAKTHI NAGAR 3rd Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 3rd Cross Street has changed

The guideline value for SAKTHI NAGAR 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, a change of 39%. Following this, the value jumped to Rs 2,250 per sq.ft in 2012, reflecting a substantial increase of 463%. However, between 2012 and 2017, the value decreased to Rs 1,507 per sq.ft, which was a decline of 33%. The guideline value then rose to Rs 2,250 per sq.ft in 2023, and most recently, it has increased to Rs 2,500 per sq.ft in 2024, an 11% increase.

Overall, from 2002 to 2024, the guideline value for SAKTHI NAGAR 3rd Cross Street has increased by 862%. The register has no figure for the years between the revisions listed above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for SAKTHI NAGAR 3rd Cross Street is above this median.

• SAKTHI NAGAR 2nd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 25th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty is charged at 7%, which totals Rs 1,75,000, and the registration fee is charged at 2%, amounting to Rs 50,000. Together, these fees total Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers SAKTHI NAGAR 3rd Cross Street?

The SAKTHI NAGAR 3rd Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial reference point during property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 3rd Cross Street?

The current guideline value of SAKTHI NAGAR 3rd Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 862% over this period.

What is the land classification for SAKTHI NAGAR 3rd Cross Street?

SAKTHI NAGAR 3rd Cross Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for SAKTHI NAGAR 3rd Cross Street?

The Sub Registrar Office for SAKTHI NAGAR 3rd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 2,25,000.