Guideline Value for SAKTHI VENKATESWARA NARGAR-PHASE-1

Sakthi Venkateswara Nargar-Phase-1 guideline value

The current guideline value of Sakthi Venkateswara Nargar-Phase-1 is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Nelvay village under the Oothukkottai SRO, classified as Residential Class II Type - I.

How the guideline value of Sakthi Venkateswara Nargar-Phase-1 has changed

In the 2012 revision, the guideline value was Rs 70 per sq.ft, which decreased to Rs 47 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 113%, bringing it back to Rs 100 per sq.ft in the 2023 revision. The current 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 43%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nelvay

In Nelvay, there are 8 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Sakthi Venkateswara Nargar-Phase-1's 2024 guideline value aligns with this median.

• Sri Anandha Nagar: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Phase-3: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Ext-1: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-2: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Venkateswara Nargar-Phase-1

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sakthi Venkateswara Nargar-Phase-1?

The Sakthi Venkateswara Nargar-Phase-1 falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for additional details.

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

The guideline value is essential during the registration process of property transactions in Nelvay. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official valuation rather than the sale price alone.

When buying or selling property, it is crucial to be aware of the guideline value as it affects the overall transaction costs. Buyers should ensure that they understand how the guideline value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Venkateswara Nargar-Phase-1?

The current guideline value of Sakthi Venkateswara Nargar-Phase-1 is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 47 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remains the same in 2024.

What is the land classification of Sakthi Venkateswara Nargar-Phase-1?

Sakthi Venkateswara Nargar-Phase-1 is classified as Residential Class II Type - I.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for property in Sakthi Venkateswara Nargar-Phase-1?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur a stamp duty of Rs 7,000.