Guideline Value for SAKTHI NAGAR 5th Cross Street

SAKTHI NAGAR 5th Cross Street guideline value

The current guideline value of SAKTHI NAGAR 5th 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. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 5th Cross Street has changed

Over the years, the guideline value for SAKTHI NAGAR 5th Cross Street has seen several revisions. The register shows the following figures: in 2002, the value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003. By 2007, the value had risen significantly to Rs 400 per sq.ft, and in 2012, it reached Rs 2,250 per sq.ft. However, there was a decrease to Rs 1,507 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,250 per sq.ft in 2023 and now to Rs 2,500 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, there has been an overall increase of 862%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2017 to 2023 was 49%. The revision from 2023 to 2024 reflects an increase of 11%. The register has no figure for this street for the years not mentioned.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 5th Cross Street above this median.

• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 3rd Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 5th 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, while the registration fee at 2% would be Rs 50,000, totaling 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 further calculations.

Which Sub Registrar Office covers SAKTHI NAGAR 5th Cross Street?

The Sub Registrar Office that covers SAKTHI NAGAR 5th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Nerkundram, the guideline value serves as a benchmark for determining the registration fees and stamp duties applicable. This value is crucial for both buyers and sellers as it influences the overall cost of the transaction.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures 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 Cross Street?

The current guideline value of SAKTHI NAGAR 5th 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, reflecting an overall increase of 862% over this period.

What is the land classification for SAKTHI NAGAR 5th Cross Street?

SAKTHI NAGAR 5th Cross Street is classified as Residential Class III Type - II.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles property registrations for SAKTHI NAGAR 5th Cross Street?

The Virugambakkam Sub Registrar Office handles property registrations for SAKTHI NAGAR 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.