Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Kannivakkam village, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Residential Class I 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 in 2012 was Rs 400 per sq.ft. This figure changed to Rs 268 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, reflecting an increase of 87%. The current value remains unchanged from the 2023 revision, which was also Rs 500 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 25%, with the current value still below the median of Rs 1,050 per sq.ft for other streets in Kannivakkam.

Guideline values in Kannivakkam

Kannivakkam village has a total of 32 streets under the Thiruporur SRO, with guideline values ranging from Rs 450 to Rs 2,389 per sq.ft. The current guideline value of Sakthi Nagar is below the median value of Rs 1,050 per sq.ft. Here are the guideline values for other streets in Kannivakkam:

• Sanjai Nagar Phase - I: Rs 1,600 per sq.ft (2024)
• Sai Enclave: Rs 1,493 per sq.ft (2024)
• Sai Chitra Nagar: Rs 1,100 per sq.ft (2024)
• Saraswathi Avenue: Rs 900 per sq.ft (2024)
• Sarathy Nagar Phase-I, Phase-II: Rs 900 per sq.ft (2024)
• Selli Amman Avenue: Rs 1,800 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. 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 further calculations.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kannivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales. Buyers and sellers must consider this value to determine the financial implications of their transactions.

When registering a property, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers to be aware of the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023 and remains the same in 2024.

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Class I Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would amount to Rs 45,000.

Which office registers properties in Sakthi Nagar?

The Thiruporur Sub Registrar Office is responsible for registering properties in Sakthi Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.