Guideline Value for SAKTHI NAGAR VARASITHI VINAYAGAR STREET

Sakthi Nagar Varasithi Vinayagar Street guideline value

The current guideline value of Sakthi Nagar Varasithi Vinayagar Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sakthi Nagar Varasithi Vinayagar Street has changed

Over the years, the guideline value for Sakthi Nagar Varasithi Vinayagar Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,800 per sq.ft, and the current 2024 revision has increased it further to Rs 1,980 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the current 2024 revision shows a modest increase of 10%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Sakthi Nagar Varasithi Vinayagar Street's 2024 figure below this median.

• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sai Street: Rs 2,200 per sq.ft (2024)
• Sandhiyamman Nagar: Rs 1,980 per sq.ft (2024)
• Santhanakrishna Layout: Rs 2,160 per sq.ft (2024)
• Sabari street: Rs 3,300 per sq.ft (2024)
• Rukmani ammal Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar Varasithi Vinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 more detailed calculations.

Which Sub Registrar Office covers Sakthi Nagar Varasithi Vinayagar Street?

The Sakthi Nagar Varasithi Vinayagar Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sakthi Nagar Varasithi Vinayagar Street?

The current guideline value of Sakthi Nagar Varasithi Vinayagar Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft in 2024.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Sakthi Nagar Varasithi Vinayagar Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Sakthi Nagar Varasithi Vinayagar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Sakthi Nagar Varasithi Vinayagar Street?

Sakthi Nagar Varasithi Vinayagar Street is classified as Residential Class II Type - I.