Guideline Value for Sakthi Nagar IIIrd Street

Sakthi Nagar IIIrd Street guideline value

The current guideline value of Sakthi Nagar IIIrd Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Sakthi Nagar IIIrd Street has changed

In the 2017 revision, the guideline value was Rs 1,139 per sq.ft. This figure increased to Rs 1,700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft, with the median value being Rs 1,870 per sq.ft. The guideline value for Sakthi Nagar IIIrd Street matches this median.

• Sakthi Nagar IInd Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Ist Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Annexe Phase I: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Annexe: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar: Rs 1,870 per sq.ft (2024)
• Sabari Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar IIIrd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,870 per sq.ft, the guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. 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 IIIrd Street?

The Sub Registrar Office that covers Sakthi Nagar IIIrd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Mangadu -A. It serves as a benchmark for the government to assess the value of the property being transacted.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sakthi Nagar IIIrd Street?

The current guideline value of Sakthi Nagar IIIrd Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft, marking an overall increase of 64% by 2024.

What were the guideline values in previous years?

The guideline values for Sakthi Nagar IIIrd Street were Rs 1,139 per sq.ft in 2017, Rs 1,700 per sq.ft in 2023, and currently Rs 1,870 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, and 2012.

Where can I find the registration office for Sakthi Nagar IIIrd Street?

The registration office for Sakthi Nagar IIIrd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 at 7%.