Guideline Value for SHAKTHI NAGAR

Shakthi Nagar guideline value

The current guideline value of Shakthi Nagar, located in Sirunallur village under the Madurandakam SRO, is Rs 102 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Shakthi Nagar has changed

In the 2012 revision, the guideline value was Rs 100 per sq.ft. This value remained the same until the 2017 revision, which saw a decrease to Rs 67 per sq.ft. However, in the 2023 revision, the value increased significantly to Rs 100 per sq.ft, and further rose to Rs 102 per sq.ft in the 2024 revision, marking a 2% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a notable change of -33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 2%.

Guideline values in Sirunallur

In Sirunallur, there are 16 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 175 per sq.ft, placing Shakthi Nagar's 2024 figure below that median.

• Sma Nagar Part-II: Rs 100 per sq.ft (2024)
• Sai Serveshwara Garden: Rs 250 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Ram Nagar: Rs 250 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 200 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Shakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, while the registration fee at 2% would be Rs 2,040. Together, the total fees would be Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shakthi Nagar?

The Sub Registrar Office that covers Shakthi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Sirunallur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When buying or selling property in Shakthi Nagar, it is essential to be aware of the current guideline value, as it directly influences the financial obligations involved in the transaction. Buyers should factor in these costs when budgeting for their property purchase.

Frequently asked questions

What is the current guideline value of Shakthi Nagar?

The current guideline value of Shakthi Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the land classification of Shakthi Nagar?

Shakthi Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Shakthi Nagar?

The Madurandakam Sub Registrar Office covers Shakthi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Shakthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 9,180.