Guideline Value for Sakthi Nagar Extension

Sakthi Nagar Extension guideline value

The current guideline value of Sakthi Nagar Extension, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

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 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The following revision in 2023 saw a significant increase to Rs 600 per sq.ft, and the most recent revision in 2024 brought it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median value is Rs 660 per sq.ft, which matches the current guideline value for Sakthi Nagar Extension.

• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sakthivel Nagar: Rs 660 per sq.ft (2024)
• Sakthivel Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthi Nagar: Rs 660 per sq.ft (2024)
• Ram Nagar: Rs 660 per sq.ft (2024)
• Selliamman Koil street: Rs 660 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar Extension?

The Sakthi Nagar Extension falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Sundaracholavaram. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property, the guideline value serves as a benchmark for calculating taxes. Buyers and sellers must be aware of this value to understand the financial implications of their transactions during the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Nagar Extension?

The current guideline value of Sakthi Nagar Extension is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 660 per sq.ft in 2024, marking an overall increase of 164%.

What is the land classification for Sakthi Nagar Extension?

Sakthi Nagar Extension is classified under Residential Class I Type - III land classification.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.