Guideline Value for Sakthi Nagar Extn

Sakthi Nagar Extn guideline value

The current guideline value of Sakthi Nagar Extn is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Sakthi Nagar Extn has changed

The guideline value for Sakthi Nagar Extn has seen several revisions over the years. In 2002, the guideline value was Rs 86 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a rise of 281%. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of 357%. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 1,500 per sq.ft in 2023 and again in 2024, indicating no change between these two revisions. Overall, from 2002 to 2024, the guideline value has increased by 1,644%.

Guideline values in Nandhivaram

Nandhivaram village comprises 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current figure for Sakthi Nagar Extn.

• Sakthi Nagar: Rs 1,500 per sq.ft (2024)
• Sadasivam Nagar: Rs 1,500 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,500 per sq.ft (2024)
• Sarojini Nagar: Rs 1,000 per sq.ft (2024)
• Rose Avenue: Rs 1,000 per sq.ft (2024)
• Sathya Sai Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, calculated at 7%, would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Thus, the total cost for stamp duty and registration fees together would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar Extn?

The Sub Registrar Office that covers Sakthi Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of properties in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sakthi Nagar Extn?

The current guideline value of Sakthi Nagar Extn is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 86 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 1,644% over the years.

What is the median guideline value in Nandhivaram?

The median guideline value for the streets in Nandhivaram under the Gooduvancheri SRO is Rs 1,500 per sq.ft, which is the same as the current value for Sakthi Nagar Extn.

What are the stamp duty and registration fees for properties in Sakthi Nagar Extn?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,05,000 and the registration fee is Rs 30,000, leading to a total of Rs 1,35,000 for both fees.

Where is the Sub Registrar Office for Sakthi Nagar Extn located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.