Guideline Value for SHAKTHI NAGAR

Shakthi Nagar guideline value

The current guideline value of Shakthi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This locality is situated in Melmaligaipattu village, under the Arani_Tiruvallur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Shakthi Nagar has changed

Looking at the historical revisions, the guideline value for Shakthi Nagar was Rs 60 per sq.ft in the 2017 revision. It then increased to Rs 100 per sq.ft in the 2023 revision, reflecting a significant change of +67%. The current 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, there has been an increase of +67% in the guideline value.

Guideline values in Melmaligaipattu

In Melmaligaipattu, there are four streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 130 per sq.ft. The median value for these streets is Rs 115 per sq.ft, placing Shakthi Nagar's 2024 figure below that median.

• S.B. Brindhavan Phase-IV: Rs 130 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 100 per sq.ft (2024)
• Lakshmi Yoga Ganapathy Nagar: Rs 130 per sq.ft (2024)

Stamp duty and registration fee for property in Shakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to 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, together totaling Rs 9,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shakthi Nagar?

The Sub Registrar Office that covers Shakthi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Melmaligaipattu. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is important to be aware of the current guideline value, as it impacts the overall cost of registration. Buyers should ensure that they are informed about the guideline value to avoid any unexpected expenses during the transaction process.

Frequently asked questions

What is the current guideline value of Shakthi Nagar?

The current guideline value of Shakthi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 60 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and remains at Rs 100 per sq.ft in 2024, reflecting a total increase of +67% from 2017 to 2024.

Are there any years with no guideline value figures for Shakthi Nagar?

Yes, the register has no figures for Shakthi Nagar for the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for property in Shakthi Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 100 per sq.ft, the total fees would amount to Rs 9,000.

Which office handles property registration for Shakthi Nagar?

The Arani_Tiruvallur Sub Registrar Office handles property registration for Shakthi Nagar, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.