Guideline Value for Sakthi Nagar Extension

Sakthi Nagar Extension guideline value

The current guideline value for Sakthi Nagar Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sakthi Nagar Extension has changed

The guideline value for Sakthi Nagar Extension has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 raised the value significantly to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Sakthi Nagar Extension matches this median.

• Sakthi Nagar: Rs 4,400 per sq.ft (2024)
• Sairam Street: Rs 3,900 per sq.ft (2024)
• Sanjaygandhi Nagar: Rs 3,900 per sq.ft (2024)
• Sanjay Gandhi Nagar I, II, Street / Lane: Rs 3,900 per sq.ft (2024)
• Sannathi Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar 10th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar Extension?

The Sakthi Nagar Extension falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

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

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal complications. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for Sakthi Nagar Extension?

The current guideline value for Sakthi Nagar Extension is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the land classification for Sakthi Nagar Extension?

The land classification for Sakthi Nagar Extension is Residential Class I Type - III.

Where can I find the registration office for Sakthi Nagar Extension?

The registration office for Sakthi Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.