Guideline Value for Sakthi Garden Phase II

Sakthi Garden Phase II guideline value

The current guideline value of Sakthi Garden Phase II is Rs 4,400 per sq.ft. This property is located in Selaiyur village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Sakthi Garden Phase II has changed

The guideline value for Sakthi Garden Phase II has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a remarkable rise of 789%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The subsequent revision in 2023 saw the value rise to Rs 4,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 4,400 per sq.ft, a change of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 878%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sakthi Garden Phase II is above this median.

• Sakthi Garden Phase I: Rs 4,400 per sq.ft (2024)
• Sakthi Garden: Rs 4,400 per sq.ft (2024)
• Sampathkumar Street: Rs 2,750 per sq.ft (2024)
• Sangeetha Sabha: Rs 1,300 per sq.ft (2024)
• Santha Nagar: Rs 2,200 per sq.ft (2024)
• Ruby School Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Garden Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Garden Phase II?

The Sub Registrar Office that covers Sakthi Garden Phase II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. The guideline value is set by the government and is updated periodically to reflect changes in the market.

When you register a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Sakthi Garden Phase II?

The current guideline value of Sakthi Garden Phase II is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 878% over the years.

What is the land classification of Sakthi Garden Phase II?

Sakthi Garden Phase II is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

Stamp duty for properties in Selaiyur is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.