Guideline Value for SRI SAKTHI NAGAR SOUTH STREET

Sri Sakthi Nagar South Street guideline value

The current guideline value of Sri Sakthi Nagar South Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Sakthi Nagar South Street has changed

The guideline value for Sri Sakthi Nagar South Street has seen several revisions over the years. In 2002, the value was Rs 414 per sq.ft, which increased to Rs 456 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,050 per sq.ft in 2007, an increase of 130%. Following this, the value rose dramatically to Rs 5,500 per sq.ft in 2012, representing a 424% increase. However, it decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 5,500 per sq.ft in 2023, followed by a final rise to Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1349%. There are no figures available for the revisions of years not listed.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, making the guideline value of Sri Sakthi Nagar South Street equal to the median.

• Sri Sakthi Nagar East Street: Rs 6,000 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 6,000 per sq.ft (2024)
• Sri Venkatesa Perumal Nagar: Rs 6,600 per sq.ft (2024)
• Sri Ramakrishna Street: Rs 5,300 per sq.ft (2024)
• State Bank Colony: Rs 6,600 per sq.ft (2024)
• S.P. Koil Street: Rs 4,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sakthi Nagar South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sakthi Nagar South Street?

The Sub Registrar Office that covers Sri Sakthi Nagar South Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar South Street?

The current guideline value of Sri Sakthi Nagar South Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 414 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 1349% over the years.

What is the land classification for Sri Sakthi Nagar South Street?

The land classification for Sri Sakthi Nagar South Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for this street?

The Kodambakkam Sub Registrar Office covers Sri Sakthi Nagar South Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 5,40,000 in fees.