Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar is Rs 2,000 per sq.ft, as per the 2023 revision. This area falls under Kilambakkam village, governed by the Gooduvancheri Sub Registrar Office, and is classified as Mixed Special Type - I land.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. However, in the subsequent revision in 2017, it dropped to Rs 1,340 per sq.ft, a decrease of 33%. The most recent revision in 2023 saw a significant increase, bringing the guideline value back up to Rs 2,000 per sq.ft, marking a 49% increase from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 2,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Kilambakkam

Currently, there are no specific village figures provided for Kilambakkam. Sakthi Nagar is one of the streets under the Gooduvancheri SRO. Other streets in Kilambakkam include:

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty is charged at 7%, resulting in Rs 1,40,000, while the registration fee at 2% amounts to Rs 40,000. Together, the total fees would be Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Kilambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. The guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, maintaining a standardized approach to property valuation.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 2,000 per sq.ft in 2012, dropping to Rs 1,340 per sq.ft in 2017, and returning to Rs 2,000 per sq.ft in 2023.

What is the land classification for Sakthi Nagar?

Sakthi Nagar is classified as Mixed Special Type - I land, which influences its guideline value and usage regulations.

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same amount. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,80,000.