Guideline Value for SAKTHI SAIRAM 1ST CROSS STREET

Sakthi Sairam 1st Cross Street guideline value

The current guideline value of Sakthi Sairam 1st Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sakthi Sairam 1st Cross Street has changed

The guideline value for Sakthi Sairam 1st Cross Street has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. The overall change from 2012 to 2024 shows a slight increase of 11%, reflecting the current guideline value's alignment with the median for the village.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, which is the same as the guideline value for Sakthi Sairam 1st Cross Street.

• Sakthi Sairam 1st Street: Rs 1,660 per sq.ft (2024)
• Sakthi Sairam 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 2nd Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar 3rd Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Sairam 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Sairam 1st Cross Street?

The Sub Registrar Office that covers Sakthi Sairam 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Vanagaram. It serves as a benchmark for the minimum price at which a property can be sold or purchased. During the registration process, the guideline value is referenced to ensure that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. These fees are calculated based on the guideline value or the actual sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Sairam 1st Cross Street?

The current guideline value of Sakthi Sairam 1st Cross Street is Rs 1,660 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Sakthi Sairam 1st Cross Street?

The land classification for Sakthi Sairam 1st Cross Street is Residential Class III Type - I.

What are the other streets in Vanagaram with their guideline values?

Other streets in Vanagaram include Sakthi Sairam 1st Street at Rs 1,660 per sq.ft, Sakthi Sairam 2nd Cross Street at Rs 1,320 per sq.ft, and several others, all listed with their respective values.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sakthi Sairam 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.