Guideline Value for SRI SAKTHI NAGAR

Sri Sakthi Nagar guideline value

The current guideline value of Sri Sakthi Nagar is Rs 226 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village, under the Manavalanagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Sakthi Nagar has changed

In the 2012 revision, the guideline value was Rs 225 per sq.ft. This figure decreased to Rs 151 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2023 revision, there was a significant increase of 50%, bringing the value back to Rs 226 per sq.ft. The 2023 revision also retained the same figure of Rs 226 per sq.ft for the 2024 revision, indicating no change.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available for reference are from 2012, 2017, 2023, and 2024.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making the guideline value of Sri Sakthi Nagar below that median.

• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sun City Phase 1: Rs 226 per sq.ft (2024)
• Sv Nagar, Gangaiamman Nagar: Rs 226 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 226 per sq.ft, the guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, totaling Rs 20,340. Please 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 further calculations.

Which Sub Registrar Office covers Sri Sakthi Nagar?

The Sub Registrar Office that covers Sri Sakthi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor when registering property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar?

The current guideline value of Sri Sakthi Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Sri Sakthi Nagar?

Sri Sakthi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 20,340, based on the guideline value of Rs 2,26,000.

Where can I find the Sub Registrar Office for Sri Sakthi Nagar?

The Sub Registrar Office for Sri Sakthi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.