Guideline Value for SAKTHI SAIRAM 1ST STREET

Sakthi Sairam 1st Street guideline value

The current guideline value of Sakthi Sairam 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls 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 Street has changed

The guideline value for Sakthi Sairam 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. In the following revision in 2017, the value increased to Rs 1,005 per sq.ft, which was a decrease of 33%. The 2023 revision saw a significant rise to Rs 1,500 per sq.ft, followed by the current 2024 revision which further increased it to Rs 1,660 per sq.ft, marking an 11% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

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 is Rs 1,660 per sq.ft, which is equal to the guideline value of Sakthi Sairam 1st Street.

• Sakthi Sairam 1st Cross 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 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 amount to Rs 1,16,200, while the registration fee at 2% would be Rs 33,200. Together, these fees would total 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Sairam 1st Street?

The Sub Registrar Office that covers Sakthi Sairam 1st 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 information.

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 determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties 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 Sairam 1st Street?

The current guideline value of Sakthi Sairam 1st 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 1,660 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

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

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

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

The Sub Registrar Office for Sakthi Sairam 1st 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.

How is stamp duty calculated for property in Sakthi Sairam 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,16,200.