Guideline Value for SRI SAKTHI NAGAR

Sri Sakthi Nagar guideline value

The current guideline value of Sri Sakthi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Meyur village and falls under the Oothukkottai SRO. The land classification is Residential Class I Type - I.

How the guideline value of Sri Sakthi Nagar has changed

The guideline value for Sri Sakthi Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 80 per sq.ft, which decreased to Rs 54 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly by 85%, bringing it back to Rs 100 per sq.ft in 2023. The current revision for 2024 also maintains this value at Rs 100 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%.

Guideline values in Meyur

In Meyur village, there are 12 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with the median value being Rs 100 per sq.ft. Sri Sakthi Nagar's 2024 figure matches this median.

• Sri Muthappa Nagar: Rs 150 per sq.ft (2024)
• Sri Balaji Avenue: Rs 100 per sq.ft (2024)
• Rv Nagar: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar -Ext: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar-Phas-II: Rs 100 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 guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Sakthi Nagar?

Sri Sakthi Nagar is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Meyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are payable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration of property. This value is regularly updated to reflect changes in the market and local conditions.

Frequently asked questions

What is the current guideline value for Sri Sakthi Nagar?

The current guideline value for Sri Sakthi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Sakthi Nagar has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Sri Sakthi Nagar?

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

What are the stamp duty rates for property transactions in Sri Sakthi Nagar?

The stamp duty rate for property transactions in Sri Sakthi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Oothukkottai Sub Registrar Office?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai 602026. You can find more information by visiting the provided link.