Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Vengathur village under the Manavalanagar SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Sakthi Nagar has changed

Looking back at the revisions, the guideline value for Sakthi Nagar was Rs 100 per sq.ft in 2007. It saw a significant increase to Rs 800 per sq.ft in 2012, marking a rise of 700%. However, this value dropped to Rs 536 per sq.ft in 2017, which was a decrease of 33%. The guideline value then increased to Rs 800 per sq.ft in 2023 and remained the same in the 2024 revision, showing no change from the previous year.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Sakthi Nagar is below this median.

• Sakthi Street: Rs 800 per sq.ft (2024)
• Sadiq Basha Street: Rs 800 per sq.ft (2024)
• Sannathi Street: Rs 800 per sq.ft (2024)
• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)
• School Street: Rs 700 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 100 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropping to Rs 536 per sq.ft in 2017, and returning to Rs 800 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Vengathur?

Other streets in Vengathur have varying guideline values. For instance, Sakthi Street, Sadiq Basha Street, and Sannathi Street all have a guideline value of Rs 800 per sq.ft, while Sathiya Moorthy Street is valued at Rs 1,300 per sq.ft.

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

For a 1,000 sq.ft plot valued at the current guideline value, the total stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles registrations for Sakthi Nagar?

The Manavalanagar Sub Registrar Office handles registrations for Sakthi Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.