Guideline Value for Sakthi Garden

Sakthi Garden guideline value

The current guideline value of Sakthi Garden, located in Selaiyur village under the Selaiyur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Sakthi Garden has changed

The guideline value for Sakthi Garden has undergone several revisions over the years. In 2007, the value was set at Rs 450 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 789%. However, from 2012 to 2017, the value saw a decrease of 33%, settling at Rs 2,680 per sq.ft. The subsequent revision in 2023 brought the value up to Rs 4,000 per sq.ft, and the latest revision in 2024 has set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 878%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sakthi Garden's 2024 figure above this median.

• Sakthi Garden Phase I: Rs 4,400 per sq.ft (2024)
• Sakthi Garden Phase II: 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

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 amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. 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?

The Sub Registrar Office that covers Sakthi Garden is 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 details.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price as per government standards.

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?

The current guideline value of Sakthi Garden 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?

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

What are the stamp duty and registration fees for property in Sakthi Garden?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Sakthi Garden located?

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