Guideline Value for Sakthi Nagar 8th st

Sakthi Nagar 8th st guideline value

The current guideline value of Sakthi Nagar 8th st is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sakthi Nagar 8th st has changed

The guideline value for Sakthi Nagar 8th st has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the current 2024 revision has raised it further to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%. The latest revision in 2024 marks a 10% increase from the previous year’s figure of Rs 2,000 per sq.ft.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 guideline value of Sakthi Nagar 8th st above this median.

• Sakthi Nagar 7th st: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 6th st: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 5th st: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 4th st (TNSCP): Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 4th st: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar 8th st

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sakthi Nagar 8th st?

The Sakthi Nagar 8th st falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Peerklankaranai, the guideline value will be used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs associated with property transactions. Understanding these values can help in better financial planning when engaging in real estate activities in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar 8th st?

The current guideline value of Sakthi Nagar 8th st is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sakthi Nagar 8th st?

The land classification for Sakthi Nagar 8th st is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 1,98,000.

Which office handles registrations for Sakthi Nagar 8th st?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Sakthi Nagar 8th st, located at No.26, Mes Road, East Tambaram, Chennai-600059.