Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ikkadu village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision marked a decrease to Rs 335 per sq.ft, but by the 2023 revision, it had increased to Rs 500 per sq.ft again. The current revision for 2024 maintains this value, showing no change from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. The change from the 2012 revision to the 2017 revision was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained at Rs 500 per sq.ft, indicating stability in the value over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Sakthi Nagar's value above this median.

• Sai Jayaram Nagar: Rs 400 per sq.ft (2024)
• Sinivasa Nagar: Rs 500 per sq.ft (2024)
• Sosiety Nagar: Rs 300 per sq.ft (2024)
• Post office street: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathi Nagar Extension: Rs 335 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 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ikkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially documented at a recognized value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and remains the same in 2024. The overall change from 2012 to 2024 is 0%.

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Class II Type - I, indicating its intended use for residential purposes.

What are the guideline values of other streets in Ikkadu?

Other streets in Ikkadu have varying guideline values, with rates ranging from Rs 100 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft.

Where is the Sub Registrar Office for Sakthi Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, which covers Sakthi Nagar.