Guideline Value for Sakthi Iyyanar Nagar

Sakthi Iyyanar Nagar guideline value

The current guideline value of Sakthi Iyyanar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Thiruvancheri village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Sakthi Iyyanar Nagar has changed

Since 2002, the guideline value for Sakthi Iyyanar Nagar has seen significant changes. The value started at Rs 46 per sq.ft in 2002, increased to Rs 66 per sq.ft in 2003, and then rose to Rs 200 per sq.ft in 2007. Following this, the value jumped to Rs 1,800 per sq.ft in 2012, but then decreased to Rs 1,206 per sq.ft in 2017. The value further increased to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 4204%. The changes between the revisions include a 32% increase from 2023 to 2024 and a 24% increase from 2017 to 2023. There are no figures available for the revisions in years other than those specified.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value is Rs 1,980 per sq.ft, which is equal to the current value for Sakthi Iyyanar Nagar.

• Sai Ram Nagar: Rs 2,200 per sq.ft (2024)
• Sai Nagar Salai: Rs 2,530 per sq.ft (2024)
• Sathish Avenue Phase I: Rs 2,530 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 1,980 per sq.ft (2024)
• Ramar Koil Street: Rs 1,980 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Iyyanar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that 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 Iyyanar Nagar?

The Sub Registrar Office that covers Sakthi Iyyanar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Thiruvancheri

The guideline value is an important factor when buying or selling property in Thiruvancheri. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Iyyanar Nagar?

The current guideline value of Sakthi Iyyanar Nagar is Rs 1,980 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 46 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 4204%.

What is the registration office for Sakthi Iyyanar Nagar?

The registration office for Sakthi Iyyanar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is calculated at 2% of the same amount.

Where can I find more information about the guideline values in Thiruvancheri?

More information about the guideline values in Thiruvancheri can be found in the Registration Department's guideline value register (TNReginet) or by visiting the relevant links for other streets in the area.