Guideline Value for SRISAKTHI NAGAR

Srisakthi Nagar guideline value

The current guideline value of Srisakthi Nagar, located in Kovilambakkam village under the Pallavaram SRO, is Rs 4,070 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - I land classification.

How the guideline value of Srisakthi Nagar has changed

The guideline value for Srisakthi Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 1,783 per sq.ft, which increased significantly to Rs 3,700 per sq.ft in the 2012 revision, marking a rise of 108%. However, in the 2017 revision, the value dropped to Rs 2,479 per sq.ft, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 3,700 per sq.ft, followed by another increase of 10% to the current value of Rs 4,070 per sq.ft in the 2024 revision.

Between the 2017 and 2023 revisions, there was an increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 128%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kovilambakkam

Kovilambakkam village has 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Srisakthi Nagar is above this median.

• Subikisha Avenue 1 & 2 Main Road: Rs 2,750 per sq.ft (2024)
• Subiksha Avenue: Rs 2,750 per sq.ft (2024)
• Suseela Nagar: Rs 2,750 per sq.ft (2024)
• Syndicate Bank Staff Colony: Rs 2,750 per sq.ft (2024)
• Tamilkudimagan Nagar: Rs 2,750 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)

Stamp duty and registration fee for property in Srisakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,070 per sq.ft, the total guideline value would be Rs 40,70,000. The stamp duty at 7% would be Rs 2,84,900, and the registration fee at 2% would be Rs 81,400, bringing the total to Rs 3,66,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srisakthi Nagar?

The Srisakthi Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Srisakthi Nagar?

The current guideline value of Srisakthi Nagar is Rs 4,070 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,783 per sq.ft in 2007 to Rs 4,070 per sq.ft in 2024, reflecting an overall increase of 128% over the years.

What is the land classification of Srisakthi Nagar?

Srisakthi Nagar is classified as Mixed Type - I land, which is relevant for understanding its usage and potential development.

Where can I find the Sub Registrar Office for Srisakthi Nagar?

The Sub Registrar Office covering Srisakthi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Srisakthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,84,900.