Guideline Value for SAKTHI NAGAR 5TH STREET

Sakthi Nagar 5th Street guideline value

The current guideline value of Sakthi Nagar 5th Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthi Nagar 5th Street has changed

The guideline value for Sakthi Nagar 5th Street has seen several revisions over the years. In 2002, the value was Rs 859 per sq.ft, which increased to Rs 944 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, and then saw a substantial jump to Rs 5,300 per sq.ft in 2012. However, it decreased to Rs 3,551 per sq.ft in 2017. The value then increased to Rs 5,300 per sq.ft in 2023, before reaching the current rate of Rs 5,800 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2002 to 2003, there was a 10% increase; from 2003 to 2007, the value rose by 38%; a significant 308% increase occurred from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 575%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which is equal to the current value of Sakthi Nagar 5th Street.

• Sakthi Nagar 4th Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar 3rd Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar 2nd Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Sakthi Nagar. Kodambakkam: Rs 7,100 per sq.ft (2024)
• Sakthi Nagar 1st Street. Choolaimedu: Rs 5,800 per sq.ft (2024)
• Samayapurathamman Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total 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, resulting in a total of Rs 5,22,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar 5th Street?

The Sub Registrar Office that covers Sakthi Nagar 5th Street 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 registering property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When a property is sold, the guideline value will be compared to the sale price. The higher of the two will be used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar 5th Street?

The current guideline value of Sakthi Nagar 5th Street 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 from Rs 859 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 575% over the years.

What is the land classification for Sakthi Nagar 5th Street?

Sakthi Nagar 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties 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.

Where is the Sub Registrar Office for Sakthi Nagar 5th Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covering the Sakthi Nagar 5th Street area.