Guideline Value for SAKTHIPURAM MAIN ROAD

Sakthipuram Main Road guideline value

The current guideline value of Sakthipuram Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Ernavur village, under the Thiruvottiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sakthipuram Main Road has changed

The guideline value for Sakthipuram Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 176 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a 99% rise. The value then surged dramatically to Rs 3,500 per sq.ft in 2012, which was a 900% increase. However, it experienced a decline to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, a 49% increase from the previous revision. Finally, the current guideline value is Rs 3,800 per sq.ft from the 2024 revision, representing a 9% increase from 2023.

It is important to note that there is no figure available for the year 2003 in the register for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Sakthipuram Main Road is above this median.

• Sakthipuram: Rs 3,800 per sq.ft (2024)
• Rukmani Nagar: Rs 1,800 per sq.ft (2024)
• Ramanathapuram Nagar/Street: Rs 1,600 per sq.ft (2024)
• Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar: Rs 2,400 per sq.ft (2024)
• Shanthi Colony: Rs 1,400 per sq.ft (2024)
• Rajiv Gandhi Nagar (Corner Plots): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthipuram Main Road

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total charges to Rs 3,42,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthipuram Main Road?

The Sub Registrar Office that covers Sakthipuram Main Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ernavur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must ensure that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, the guideline value ensures that the government receives appropriate revenue from property transactions. It is essential for both parties involved in the transaction 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 Sakthipuram Main Road?

The current guideline value of Sakthipuram Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 176 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 2059% over the years.

What is the land classification for Sakthipuram Main Road?

The land classification for Sakthipuram Main Road is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Sakthipuram Main Road?

The Sub Registrar Office for Sakthipuram Main Road is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Sakthipuram Main Road?

The 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 the current guideline value would incur a stamp duty of Rs 2,66,000.