Guideline Value for SKATHI NAGAR

Skathi Nagar guideline value

The current guideline value of Skathi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Chitravadi village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Skathi Nagar has changed

The guideline value for Skathi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 70 per sq.ft, which increased to Rs 47 per sq.ft in 2017. Following this, the value remained unchanged at Rs 100 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

Looking at the changes between revisions, there was a significant increase of 113% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Chitravadi

In Chitravadi, there are four streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 103 per sq.ft. The median value for these streets is Rs 102 per sq.ft, placing Skathi Nagar's 2024 figure below that median.

• Sapthagiri Garden: Rs 103 per sq.ft (2024)
• Lakshmi Narasimma Swamy Nagar: Rs 103 per sq.ft (2024)
• A.G.P. Punnia Boomi: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Skathi Nagar

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Skathi Nagar?

Skathi Nagar falls under the jurisdiction of 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 Chitravadi

The guideline value is a crucial factor in property transactions in Chitravadi, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that all transactions adhere to the established legal framework.

Frequently asked questions

What is the current guideline value of Skathi Nagar?

The current guideline value of Skathi 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 remained the same at Rs 100 per sq.ft from 2023 to 2024, but it increased by 113% from Rs 47 per sq.ft in 2017 to Rs 100 per sq.ft in 2023.

What are the other streets in Chitravadi with guideline values?

Other streets in Chitravadi include Sapthagiri Garden at Rs 103 per sq.ft, Lakshmi Narasimma Swamy Nagar at Rs 103 per sq.ft, and A.G.P. Punnia Boomi at Rs 100 per sq.ft for 2024.

What is the stamp duty rate in Skathi Nagar?

The stamp duty rate in Skathi Nagar is 7% of the guideline value or sale price, whichever is higher. For example, a plot valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can also find your SRO through the provided link.