Guideline Value for SRI SHAKTHI NAGAR

Sri Shakthi Nagar guideline value

The current guideline value of Sri Shakthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri_2 village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Shakthi Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2023 revision, marking a change of +49%. The guideline value remained unchanged at Rs 700 per sq.ft in the 2024 revision, resulting in a total increase of +49% from the 2017 figure to the current value.

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

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft, with a median value of Rs 700 per sq.ft. Sri Shakthi Nagar's 2024 figure aligns with this median.

• Subramani Nagar: Rs 702 per sq.ft (2024)
• Taluk Office Road: Rs 702 per sq.ft (2024)
• Taluk Office Salai: Rs 1,200 per sq.ft (2024)
• Thaiyuman Chetty St: Rs 1,200 per sq.ft (2024)
• Theradi Burma Nagar: Rs 1,200 per sq.ft (2024)
• Theradi Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Shakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 Shakthi Nagar?

Sri Shakthi Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property in Sri Shakthi Nagar, the guideline value will be used to assess the applicable taxes and fees.

It is important for buyers and sellers to be aware of the current guideline value, as it reflects the official valuation set by the government. This ensures that both parties comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sri Shakthi Nagar?

The current guideline value of Sri Shakthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision to the 2023 revision, the guideline value increased from Rs 469 per sq.ft to Rs 700 per sq.ft, which is a 49% increase. The value remained the same in the 2024 revision.

What is the land classification of Sri Shakthi Nagar?

Sri Shakthi Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

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

The Sub Registrar Office covering Sri Shakthi Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as the minimum value for these calculations, ensuring compliance with legal requirements.