Guideline Value for SAKTHI NAGAR

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Padi village under the Villivakkam SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The earliest figure available is from 2007, when the guideline value was Rs 1,650 per sq.ft. In 2012, it rose to Rs 2,300 per sq.ft, marking an increase of 39%. However, between 2012 and 2017, there was a significant decrease of 33%, bringing the value down to Rs 1,541 per sq.ft. The value then increased sharply to Rs 2,300 per sq.ft in 2023, representing a 49% rise. The latest revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 52%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that Sakthi Nagar's 2024 figure is below this median.

• Santham Colony: Rs 8,700 per sq.ft (2024)
• Rohini Flats: Rs 13,100 per sq.ft (2024)
• Sathiyamurthy Street: Rs 2,500 per sq.ft (2024)
• Sathiya Nagar: Rs 2,500 per sq.ft (2024)
• Sathyamurthy Colony (Near Thiruvalleswarar Nagar): Rs 5,400 per sq.ft (2024)
• Sathyavathy Nagar: Rs 3,400 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Padi. It serves as a benchmark for determining the minimum value of the property that can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during property transactions.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 52% over the years.

What is the land classification for Sakthi Nagar?

Sakthi Nagar is classified as Residential Class V Type - I according to the local land classification regulations.

Where can I find the Sub Registrar Office for Sakthi Nagar?

The Sub Registrar Office for Sakthi Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Sakthi Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000.