Guideline Value for SRI SAKTHI NAGAR (WARD -15)

Sri Sakthi Nagar (Ward -15) guideline value

The current guideline value of Sri Sakthi Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Sri Sakthi Nagar (Ward -15) has changed

Since the 2012 revision, the guideline value for Sri Sakthi Nagar has seen several changes. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in 2017. Following that, the value increased to Rs 600 per sq.ft in 2023, and the current value is Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making the current rate for Sri Sakthi Nagar (Ward -15) below that median.

• Sri Ram Nagar (Kr): Rs 660 per sq.ft (2024)
• Station Street (Ward -18): Rs 660 per sq.ft (2024)
• Srinivasa Nagar (Kr): Rs 660 per sq.ft (2024)
• Subramania Siva Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Sri Maruthi Nagar (Sa): Rs 660 per sq.ft (2024)
• Sri Lakshmi Nagar (Sa): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sakthi Nagar (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sakthi Nagar (Ward -15)?

The Sub Registrar Office that covers Sri Sakthi Nagar (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions, providing a standard reference for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar (Ward -15)?

The current guideline value of Sri Sakthi Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Sri Sakthi Nagar?

Sri Sakthi Nagar is classified as Residential Class I Type - III under the land classification system.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Sri Sakthi Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.