Guideline Value for Sakthi Nagar Ist Street

Sakthi Nagar Ist Street guideline value

The current guideline value of Sakthi Nagar Ist 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 Ist Street has changed

The guideline value for Sakthi Nagar Ist Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, which reflects a 10% increase from the 2023 figure of Rs 1,700 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,139 per sq.ft, indicating a significant increase of 49% from 2017 to 2023 and an overall increase of 64% from 2017 to 2024.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street.

Guideline values in Mangadu -A

In total, there are 208 streets in Mangadu -A under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, which is the same as the guideline value for Sakthi Nagar Ist Street.

• Sakthi Nagar IInd Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar IIIrd 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty, charged at 7%, would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, these fees would total 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar Ist Street?

The Sub Registrar Office that covers Sakthi Nagar Ist 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 an essential factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

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. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

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

What is the land classification of Sakthi Nagar Ist Street?

Sakthi Nagar Ist Street is classified as Residential Class I Type - I under the Kunrathur SRO.

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

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a property valued at Rs 18,70,000 would incur a stamp duty of Rs 1,30,900 and a registration fee of Rs 37,400.