Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Thiruvanmiyur village, is Rs 8,250 per sq.ft as per the 2024 revision. This value is effective from 1 July 2024 and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 732 per sq.ft. It increased to Rs 810 per sq.ft in 2003, marking an 11% rise. The value continued to climb to Rs 1,300 per sq.ft in 2007, representing a significant increase of 60%. In 2012, the value was recorded at Rs 7,500 per sq.ft, which was a 477% increase from the previous revision. However, it then decreased to Rs 5,025 per sq.ft in 2017, reflecting a decline of 33%.

In the subsequent revisions, the guideline value rose again, reaching Rs 7,500 per sq.ft in 2023, followed by a further increase to the current value of Rs 8,250 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1027%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, which means that Sakthi Nagar's 2024 figure is below that median.

• Rukmani Road Extension: Rs 11,000 per sq.ft (2024)
• Rukmani Road: Rs 12,660 per sq.ft (2024)
• Sannathi Street: Rs 7,150 per sq.ft (2024)
• Santhi Avenue: Rs 9,900 per sq.ft (2024)
• Reserve Bank Colony: Rs 9,900 per sq.ft (2024)
• Renganathapuram (Indra Nagar): Rs 9,900 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 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty, charged at 7%, would amount to Rs 5,77,500, while the registration fee at 2% would be Rs 1,65,000. Together, the total cost for these fees would be Rs 7,42,500. 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?

The Sub Registrar Office that covers Sakthi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The higher of the guideline value or the sale price is considered for calculating these fees.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to accurately estimate their costs during the transaction process.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 8,250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 732 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, which is an overall increase of 1027%.

What are the other streets in Thiruvanmiyur and their guideline values?

Other streets in Thiruvanmiyur include Rukmani Road Extension at Rs 11,000 per sq.ft, Rukmani Road at Rs 12,660 per sq.ft, and Sannathi Street at Rs 7,150 per sq.ft, among others.

How is the stamp duty calculated in Sakthi Nagar?

Stamp duty in Sakthi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 5,77,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Sakthi Nagar?

The Sub Registrar Office for Sakthi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information online.