Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen significant changes. Starting from Rs 44 per sq.ft in 2003, it increased to Rs 50 per sq.ft in 2007, followed by a substantial rise to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017. The most recent revisions show an increase to Rs 300 per sq.ft in 2023 and a further rise to Rs 330 per sq.ft in 2024, marking a 10% increase from the previous year.

In total, from 2003 to 2024, the guideline value has increased by 650%. The register has no figure for the year 2002 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 770 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is equal to the current figure for Sakthi Nagar.

• Saraswathi Nagar: Rs 330 per sq.ft (2024)
• Ranjith Rajan Nagar: Rs 330 per sq.ft (2024)
• Sathiyapuram: Rs 330 per sq.ft (2024)
• Ranga Nagar: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Sharmila Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. 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 details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 44 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 650% over the years.

What is the registration office for Sakthi Nagar?

The registration office for Sakthi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Sakthi Nagar?

Stamp duty for properties in Sakthi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 23,100 at the current guideline value.

What are the other streets in Nanthiambakkam with the same guideline value?

Other streets in Nanthiambakkam that have the same guideline value of Rs 330 per sq.ft include Saraswathi Nagar, Ranjith Rajan Nagar, Sathiyapuram, Ranga Nagar, Rajiv Gandhi Nagar, and Sharmila Nagar.