Guideline Value for Sakthi Garden

Sakthi Garden guideline value

The current guideline value of Sakthi Garden, located in Alamathi village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthi Garden has changed

The guideline value for Sakthi Garden has seen significant changes over the years. In 2003, the value was Rs 19 per sq.ft, which increased dramatically to Rs 400 per sq.ft by 2007, marking a rise of 2005%. The value then rose to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 700 per sq.ft in 2023, before reaching the current figure of Rs 770 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2003 to 2024, the guideline value has increased by 3953%. The register has no figure for Sakthi Garden in 2002.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Sakthi Garden is above this median.

• Sakthi Nagar: Rs 550 per sq.ft (2024)
• Rich Garden: Rs 550 per sq.ft (2024)
• School Street: Rs 990 per sq.ft (2024)
• Selvaraj Nagar: Rs 550 per sq.ft (2024)
• Ragavendra Modern City Annexe: Rs 550 per sq.ft (2024)
• Sivanthi Athithanar Road: Rs 550 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Garden?

The Sub Registrar Office that covers Sakthi Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alamathi. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Garden?

The current guideline value of Sakthi Garden is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 19 per sq.ft in 2003 and reaching Rs 770 per sq.ft in 2024, reflecting a total increase of 3953% over the years.

What is the stamp duty rate for properties in Sakthi Garden?

The stamp duty rate for properties in Sakthi Garden is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Sakthi Garden?

The Redhills Sub Registrar Office handles registrations for Sakthi Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sakthi Garden?

The land classification for Sakthi Garden is Residential Class I Type - I, indicating its suitability for residential development.