Guideline Value for SAKTHI NAGAR MAIN ROAD

Sakthi Nagar Main Road guideline value

The current guideline value of Sakthi Nagar Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Special Type - I.

How the guideline value of Sakthi Nagar Main Road has changed

The guideline value for Sakthi Nagar Main Road has seen several revisions over the years. In 2012, the value was set at Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023 and then to Rs 6,600 per sq.ft in the 2024 revision.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, while from 2023 to 2024, the increase was 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are a total of 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, and the guideline value for Sakthi Nagar Main Road is above this median.

• SAKTHI NAGAR 8th STREET: Rs 5,000 per sq.ft (2024)
• Sakthi Srinivasan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• SAKTHI NAGAR 7th STREET: Rs 5,000 per sq.ft (2024)
• Sakthi Srinivasan 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• SAKTHI NAGAR 6th STREET: Rs 5,000 per sq.ft (2024)
• Sakthi Srinivasan 3rd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 detailed calculations.

Which Sub Registrar Office covers Sakthi Nagar Main Road?

The Sakthi Nagar Main Road falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Okkiyamthuraipakkam. 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 buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sakthi Nagar Main Road?

The current guideline value of Sakthi Nagar Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What are the stamp duty and registration fees for a property on Sakthi Nagar Main Road?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Sakthi Nagar Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How do I calculate the registration fees?

You can calculate the registration fees using the stamp duty and registration fee calculator available on our site.