Guideline Value for Sakheeswaran Nagar

Sakheeswaran Nagar guideline value

The current guideline value of Sakheeswaran Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sakheeswaran Nagar has changed

The guideline value for Sakheeswaran Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 554 per sq.ft, which increased to Rs 900 per sq.ft in 2007, marking a rise of 62%. By 2012, the value increased further to Rs 2,000 per sq.ft, a substantial jump of 122%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 297%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, positioning Sakheeswaran Nagar's current figure below this median.

• Sabapathi Mudali Street: Rs 2,700 per sq.ft (2024)
• Samudeeswari Nagar: Rs 1,900 per sq.ft (2024)
• Sathiyanarayanan Street: Rs 2,700 per sq.ft (2024)
• Seethapathi Street: Rs 1,900 per sq.ft (2024)
• Semathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Shanthi Colony / Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sakheeswaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakheeswaran Nagar?

The Sub Registrar Office covering Sakheeswaran Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps to establish the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sakheeswaran Nagar?

The current guideline value of Sakheeswaran Nagar is Rs 2,200 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 554 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 297% over this period.

What is the registration office for Sakheeswaran Nagar?

The registration office for Sakheeswaran Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for a property in Sakheeswaran Nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue based on the established values.