Guideline Value for SAKTHI SAIRAM 2ND STREET

Sakthi Sairam 2nd Street guideline value

The current guideline value of Sakthi Sairam 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sakthi Sairam 2nd Street has changed

The guideline value for Sakthi Sairam 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, this value saw a significant increase to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,320 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2023 to 2024 was a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a 10% rise. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Sakthi Sairam 2nd Street's value below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Sairam 2nd Street?

The Sub Registrar Office covering Sakthi Sairam 2nd 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 plays a crucial role in the registration process when buying or selling property in Vanagaram. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value to ensure the transaction is legally recognized. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Sairam 2nd Street?

The current guideline value of Sakthi Sairam 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sakthi Sairam 2nd Street?

Sakthi Sairam 2nd Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property in Sakthi Sairam 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, making the total charges Rs 1,18,800.

Which office handles registrations for Sakthi Sairam 2nd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Sakthi Sairam 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.