Guideline Value for SAKTHI NAGAR Extension

SAKTHI NAGAR Extension guideline value

The current guideline value of SAKTHI NAGAR Extension, located in Nerkundram village under the Virugambakkam SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR Extension has changed

Over the years, the guideline value in SAKTHI NAGAR Extension has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased dramatically to Rs 2,250 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 1,507 per sq.ft in 2017. The value then rose again to Rs 2,250 per sq.ft in 2023, before reaching the current rate of Rs 2,500 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 525% from 2007 to 2024. Notably, the transition from 2017 to 2023 saw a rise of 49%, while the jump from 2012 to 2017 represented a decline of 33%. The increase from 2023 to 2024 was 11%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

Nerkundram village has 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, making the current value of SAKTHI NAGAR Extension above that median.

• SAKTHI NAGAR 9th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 8th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 6th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value is Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total fees 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers SAKTHI NAGAR Extension?

The SAKTHI NAGAR Extension 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 more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable to the property, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for the costs associated with the guideline value when planning their purchase.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR Extension?

The current guideline value of SAKTHI NAGAR Extension 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 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting a total increase of 525% over the years.

What are the stamp duty and registration fees for property in SAKTHI NAGAR Extension?

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 Sub Registrar Office handles registrations for SAKTHI NAGAR Extension?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring that the property is registered correctly in the official records.