Guideline Value for SAKTHI NAGAR 4th Cross Street

SAKTHI NAGAR 4th Cross Street guideline value

The current guideline value of SAKTHI NAGAR 4th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of SAKTHI NAGAR 4th Cross Street has changed

Over the years, the guideline value for SAKTHI NAGAR 4th Cross Street has undergone several revisions. The earliest recorded value was Rs 260 per sq.ft in 2002, which increased to Rs 287 per sq.ft in 2003. Following this, the value rose to Rs 400 per sq.ft in 2007, and then saw a significant jump to Rs 2,250 per sq.ft in 2012. However, it decreased to Rs 1,507 per sq.ft in 2017 before climbing to Rs 2,250 per sq.ft again in 2023.

The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, marking an increase of 11% from the previous year's figure. Notably, the change from 2017 to 2023 was an increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. The 2007 to 2012 revision experienced a substantial increase of 463%, and from 2003 to 2007, the value increased by 39%. Overall, from 2002 to 2024, the guideline value has increased by 862%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 4th Cross Street above this median.

• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 4th 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 at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 4th Cross Street?

The SAKTHI NAGAR 4th 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 plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 4th Cross Street?

The current guideline value of SAKTHI NAGAR 4th 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 significantly from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024. There have been various increases and decreases in the values over the years, with the most notable increase of 11% from 2023 to 2024.

What is the land classification of SAKTHI NAGAR 4th Cross Street?

SAKTHI NAGAR 4th Cross Street is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

What is the registration office for SAKTHI NAGAR 4th Cross Street?

The registration office for SAKTHI NAGAR 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 25,00,000, the stamp duty would be calculated at 7% of that value.