Guideline Value for Sakthi Garden phase III

Sakthi Garden phase III guideline value

The current guideline value of Sakthi Garden phase III is Rs 1,540 per sq.ft, effective from 1 July 2024. This property is located in Chennerkuppam village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Sakthi Garden phase III has changed

The guideline value for Sakthi Garden phase III has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a rise of 211%. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,400 per sq.ft in 2023, followed by a further increase to Rs 1,540 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 242%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is the same as the guideline value for Sakthi Garden phase III.

• Sakthi Garden phase I & Phase II: Rs 1,540 per sq.ft (2024)
• Sagunthala Nagar: Rs 1,430 per sq.ft (2024)
• Santhi Nagar: Rs 1,540 per sq.ft (2024)
• Santron P Sakrapani Garden: Rs 2,090 per sq.ft (2024)
• Sarva Ganapthi Nagar: Rs 1,430 per sq.ft (2024)
• Sastha Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Garden phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sakthi Garden phase III?

The Sakthi Garden phase III is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Garden phase III?

The current guideline value of Sakthi Garden phase III is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 242% over the years.

What are the stamp duty and registration fees for properties in Sakthi Garden phase III?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,38,600.

Which office handles property registrations for Sakthi Garden phase III?

The Kunrathur Sub Registrar Office handles property registrations for Sakthi Garden phase III, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration. It is essential for calculating the stamp duty and registration fees required during property transactions.