Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value for Sakthi Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen significant changes over the years. In 2003, the value was Rs 234 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2007, marking a change of +413%. The value then rose to Rs 5,000 per sq.ft in 2012, representing a substantial increase of +317%. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of -33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has reached Rs 5,500 per sq.ft in 2024, reflecting an increase of +10%.

Overall, from 2003 to 2024, the guideline value has increased by +2,250%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value in this area is Rs 3,300 per sq.ft, indicating that Sakthi Nagar's current guideline value is above that median.

• SAKTHI NAGAR 1st STREET: Rs 5,500 per sq.ft (2024)
• Sakthi Garden Main Road: Rs 2,800 per sq.ft (2024)
• Sakthi Garden 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Sakthi Garden 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• SAKTHI NAGAR 2nd STREET: Rs 5,500 per sq.ft (2024)
• Sakthi Garden 2nd Cross Street: Rs 2,800 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value is often the basis for calculating these fees, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. Sellers should also be mindful of the guideline value, as it can influence potential buyers' perceptions of the property’s worth.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 234 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +2,250% over this period.

What is the registration office for Sakthi Nagar?

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

How is stamp duty calculated in Sakthi Nagar?

Stamp duty in Sakthi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot with a guideline value of Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.

What are the other streets in Okkiyamthuraipakkam?

Other streets in Okkiyamthuraipakkam include SAKTHI NAGAR 1st STREET and SAKTHI NAGAR 2nd STREET, both valued at Rs 5,500 per sq.ft, along with several streets valued at Rs 2,800 per sq.ft.