Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The earliest recorded value is from 2007, which was Rs 400 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 350%. However, it then dropped to Rs 1,206 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 1,800 per sq.ft in 2023, and finally, it reached the current value of Rs 1,960 per sq.ft in 2024, reflecting a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. From 2017 to 2023, the guideline value rose by 49%, illustrating a notable increase in the recent years. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Sakthi Nagar is below this median.

• Sai Saminatah Residency: Rs 2,750 per sq.ft (2024)
• Sampath Nagar: Rs 3,300 per sq.ft (2024)
• Sarath Nagar: Rs 1,960 per sq.ft (2024)
• Rose Garden: Rs 1,960 per sq.ft (2024)
• Rani Nagar: Rs 1,960 per sq.ft (2024)
• Rane Nagar: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty, charged at 7%, would be Rs 1,37,200, while the registration fee at 2% would be Rs 39,200. Together, these fees amount to Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is 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 Nanmangalam

The guideline value is a crucial factor when registering property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you buy or sell property in this area, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware of the current guideline value to accurately calculate the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,960 per sq.ft in 2024, marking an overall increase of 390%.

What is the median guideline value in Nanmangalam?

The median guideline value in Nanmangalam for 2024 is Rs 2,750 per sq.ft, with Sakthi Nagar's value being below this median.

What are the stamp duty and registration fees for property in Sakthi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,60,000, leading to a stamp duty of Rs 1,37,200 and a registration fee of Rs 39,200, totaling Rs 1,76,400.

Where is the Sub Registrar Office for Sakthi Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.