Guideline Value for Sakthi Nagar Extension/Thirumurugan Street

Sakthi Nagar Extension/Thirumurugan Street guideline value

The current guideline value of Sakthi Nagar Extension/Thirumurugan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sakthi Nagar Extension/Thirumurugan Street has changed

The guideline value for Sakthi Nagar Extension/Thirumurugan Street has undergone revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. Following this, the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current figure for Sakthi Nagar Extension/Thirumurugan Street.

• Sakthi Pounammal Koil Street: Rs 3,850 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar Extension/Thirumurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 Nagar Extension/Thirumurugan Street?

The Sakthi Nagar Extension/Thirumurugan Street falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an essential figure used during the registration of property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is bought or sold, the guideline value aids in determining the official sale price for registration purposes. It is crucial for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sakthi Nagar Extension/Thirumurugan Street?

The current guideline value of Sakthi Nagar Extension/Thirumurugan Street is Rs 4,400 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 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of Sakthi Nagar Extension/Thirumurugan Street?

Sakthi Nagar Extension/Thirumurugan Street is classified as Residential Class II Type - II. This classification affects the guideline value and the applicable fees during property transactions.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Sakthi Nagar Extension/Thirumurugan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.