Guideline Value for SAKTHI NAGAR 3rd STREET

SAKTHI NAGAR 3rd STREET guideline value

The current guideline value of SAKTHI NAGAR 3rd 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 the land classification is Residential Special Type - III.

How the guideline value of SAKTHI NAGAR 3rd STREET has changed

The guideline value for SAKTHI NAGAR 3rd STREET has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 234 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2007, reflecting a change of +413%. The value then rose to Rs 5,000 per sq.ft in 2012, showing a remarkable increase of +317%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of -33%. The 2023 revision saw the value rise again to Rs 5,000 per sq.ft, and the most recent 2024 revision has set the current guideline value at Rs 5,500 per sq.ft, marking an increase of +10% from the previous year.

It is important to note that there is no figure available for SAKTHI NAGAR 3rd STREET in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by +2250%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, making the current value of SAKTHI NAGAR 3rd STREET above this median.

• SAKTHI NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• SAKTHI NAGAR 2nd STREET: 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)
• SAKTHI NAGAR 7th STREET: Rs 5,000 per sq.ft (2024)
• SAKTHI NAGAR 8th STREET: Rs 5,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers SAKTHI NAGAR 3rd STREET?

The Sub Registrar Office that covers SAKTHI NAGAR 3rd 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 more details.

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

The guideline value plays a crucial role during property transactions in Okkiyamthuraipakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Accurate knowledge of the guideline value can help in better financial planning and understanding of the costs involved in property dealings.

Frequently asked questions

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

The current guideline value of SAKTHI NAGAR 3rd 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 seen several changes, starting from Rs 234 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, showing an overall increase of +2250% over the years.

What is the land classification for SAKTHI NAGAR 3rd STREET?

SAKTHI NAGAR 3rd STREET is classified as Residential Special Type - III.

Which Sub Registrar Office covers SAKTHI NAGAR 3rd STREET?

The Neelankarai Sub Registrar Office covers SAKTHI NAGAR 3rd STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in SAKTHI NAGAR 3rd STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.