Guideline Value for Sakthi Nagar, Periyasekkadu (Ward-01)

Sakthi Nagar, Periyasekkadu (Ward-01) guideline value

The current guideline value of Sakthi Nagar, Periyasekkadu (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sakthi Nagar, Periyasekkadu (Ward-01) has changed

Over the years, the guideline value of Sakthi Nagar has seen significant changes. The 2017 revision recorded a value of Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Sakthi Nagar's 2024 figure below this median.

• Sakthi Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sakthivel Nagar: Rs 1,300 per sq.ft (2024)
• Sakthivel Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar, Periyasekkadu (Ward-01)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar, Periyasekkadu (Ward-01)?

The Sub Registrar Office that covers Sakthi Nagar, Periyasekkadu (Ward-01) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the authorities will assess the higher value between the sale price and the guideline value to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Nagar, Periyasekkadu (Ward-01)?

The current guideline value of Sakthi Nagar, Periyasekkadu (Ward-01) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 62%, rising from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024.

What is the stamp duty rate for property in Sakthi Nagar?

The stamp duty rate for property in Sakthi Nagar is 7%, which is applied to the higher of the guideline value or the sale price during registration.

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

The Sub Registrar Office for Sakthi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, while Sakthi Nagar's guideline value is below this median at Rs 1,300 per sq.ft.