Guideline Value for Sakthi Nagar IInd Street

Sakthi Nagar IInd Street guideline value

The current guideline value of Sakthi Nagar IInd Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthi Nagar IInd Street has changed

The guideline value for Sakthi Nagar IInd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, which is an increase from Rs 1,700 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,139 per sq.ft, indicating a significant rise of +49% from 2017 to 2023.

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. The median value among these streets is Rs 1,870 per sq.ft, which is the same as the guideline value for Sakthi Nagar IInd Street.

• Sakthi Nagar IIIrd 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 IInd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total 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, bringing the total fees together to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sakthi Nagar IInd Street?

The Sub Registrar Office covering Sakthi Nagar IInd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering a property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking an overall increase of +64% over this period.

What is the land classification for Sakthi Nagar IInd Street?

The land classification for Sakthi Nagar IInd Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sakthi Nagar IInd Street?

The Sub Registrar Office for Sakthi Nagar IInd Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

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