Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value for Sakthi Nagar has seen revisions. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision has increased the value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for Sakthi Nagar in the revisions of 2002, 2003, 2007, and 2017. Therefore, the overall change from the 2012 revision to the 2024 revision is also a 10% increase.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for the village is Rs 3,300 per sq.ft, indicating that Sakthi Nagar's current guideline value is below this median.

• Sanitary Workers Colony: Rs 2,100 per sq.ft (2024)
• Sanjai Gandhi Nagar: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sankar Nagar: Rs 3,850 per sq.ft (2024)
• Sankar Nagar 1 To 3 Streets: Rs 3,850 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 located at Pallavaram Sub Registrar Office, 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

During the registration process, the guideline value serves as a benchmark for assessing the value of the property. It ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sakthi Nagar has increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, representing a 10% increase. There were no recorded figures for the years 2002, 2003, 2007, and 2017.

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

For a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Sakthi Nagar?

The Pallavaram Sub Registrar Office covers Sakthi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Sakthi Nagar?

Sakthi Nagar falls under the Residential Class II Type - I land classification, which is important for understanding its zoning and permissible uses.