Guideline Value for SAKTHIVEL NAGAR

Sakthivel Nagar guideline value

The current guideline value of Sakthivel Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Sakthivel Nagar has changed

The guideline value for Sakthivel Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, placing Sakthivel Nagar's 2024 figure above this median.

• Sakthi Nagar: Rs 550 per sq.ft (2024)
• Sai Nagar: Rs 550 per sq.ft (2024)
• Saibaba Nagar: Rs 550 per sq.ft (2024)
• Rathna Avenue: Rs 440 per sq.ft (2024)
• Rangha Avenue: Rs 440 per sq.ft (2024)
• Ramshankar Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthivel Nagar?

The Sub Registrar Office that covers Sakthivel Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Minjur. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

The current guideline value of Sakthivel Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the median guideline value in Minjur?

The median guideline value in Minjur is Rs 550 per sq.ft, with Sakthivel Nagar's value being above this median at Rs 880 per sq.ft.

How much would stamp duty be for a property in Sakthivel Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, calculated at 7% of the guideline value.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.