Guideline Value for Sakthi Nagar & Streets

Sakthi Nagar & Streets guideline value

The current guideline value for Sakthi Nagar & Streets is Rs 7,100 per sq.ft, effective from 1 July 2024. This area falls under 1. Nolambur village and is registered with the Villivakkam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sakthi Nagar & Streets has changed

In the 2017 revision, the guideline value was Rs 4,355 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, which is a further increase of 9% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value for Sakthi Nagar & Streets.

• SAKTHI NAGAR IIIrd AVENUE: Rs 4,355 per sq.ft (2024)
• Raja Garden: Rs 7,100 per sq.ft (2024)
• S & P Garden: Rs 7,100 per sq.ft (2024)
• Srigajalakshmi Nagar: Rs 3,700 per sq.ft (2024)
• Perumal Koil Street: Rs 3,700 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar & Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty is charged at 7%, which totals Rs 4,97,000, while the registration fee at 2% amounts to Rs 1,42,000. Together, the total fees would be Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sakthi Nagar & Streets?

The Sub Registrar Office that covers Sakthi Nagar & Streets is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process when buying or selling property in 1. Nolambur. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the Registration Department. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Sakthi Nagar & Streets?

The current guideline value for Sakthi Nagar & Streets is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024. This represents an overall increase of 63% from 2017 to 2024.

What is the land classification for Sakthi Nagar & Streets?

The land classification for Sakthi Nagar & Streets is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs total fees of Rs 6,39,000.

Where is the Sub Registrar Office for Sakthi Nagar & Streets located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles the registration of properties in the Sakthi Nagar & Streets area.