Guideline Value for SAKTHI STREET

Sakthi Street guideline value

The current guideline value of Sakthi Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Sakthi Street has changed

The guideline value for Sakthi Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 220% rise. However, the value dropped to Rs 536 per sq.ft in the 2017 revision, which was a decrease of 33%. From 2017 to 2023, the guideline value increased by 49% to Rs 800 per sq.ft, which remained unchanged in the 2024 revision, maintaining the rate at Rs 800 per sq.ft.

It is important to note that the register has no figures for Sakthi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Sakthi Street's 2024 figure below this median.

• Sakthi Nagar: Rs 800 per sq.ft (2024)
• Sadiq Basha Street: Rs 800 per sq.ft (2024)
• Sannathi Street: Rs 800 per sq.ft (2024)
• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. 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 detailed calculations.

Which Sub Registrar Office covers Sakthi Street?

The Sub Registrar Office that covers Sakthi Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are paid. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sakthi Street?

The current guideline value of Sakthi Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 250 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropping to Rs 536 per sq.ft in 2017, and finally remaining at Rs 800 per sq.ft from 2023 to 2024.

What are the other streets in Vengathur with similar guideline values?

Other streets in Vengathur with a guideline value of Rs 800 per sq.ft include Sakthi Nagar, Sadiq Basha Street, and Sannathi Street. There are also streets with different values, such as Sathiya Moorthy Street at Rs 1,300 per sq.ft.

What are the fees for registering a property in Sakthi Street?

The fees for registering a property in Sakthi Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 72,000.

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

The Sub Registrar Office for Sakthi Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find more information by following the provided link.