Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value was increased to Rs 1,500 per sq.ft, and the latest revision in 2024 brought it up to Rs 1,700 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The most recent change from 2023 to 2024 represents a 13% increase, making the overall change from 2012 to 2024 a modest 13% increase.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with the median being Rs 1,700 per sq.ft. The guideline value for Sakthi Nagar aligns with this median.

• Salammal Garden: Rs 1,100 per sq.ft (2024)
• Salamon Garden: Rs 1,000 per sq.ft (2024)
• Samuel / Surendran Garden: Rs 1,000 per sq.ft (2024)
• Sankarraman Garden: Rs 1,100 per sq.ft (2024)
• Sarathadevi Garden: Rs 1,100 per sq.ft (2024)
• Sarawathi Garden: Rs 3,300 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar?

The Sakthi Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the transaction is recorded accurately. This value helps in calculating the necessary fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Sakthi Nagar?

Sakthi Nagar falls under the Residential Class IV Type - I land classification.

What is the stamp duty for a property in Sakthi Nagar?

The stamp duty for a property in Sakthi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.