Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. In 2002, the guideline value was Rs 86 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a substantial rise of 281%. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a remarkable increase of 357% from the previous revision. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value remained at Rs 1,500 per sq.ft in 2023 and continues at this rate in 2024, showing no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1644%. It is important to note that there is no figure available for this street in the 2003 revision.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which aligns with the current guideline value of Sakthi Nagar.

• Sakthi Nagar Extn: Rs 1,500 per sq.ft (2024)
• Sadasivam Nagar: Rs 1,500 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,500 per sq.ft (2024)
• Rose Avenue: Rs 1,000 per sq.ft (2024)
• Sarojini Nagar: Rs 1,000 per sq.ft (2024)
• Sathya Sai Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

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, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is typically assessed by the local government and reflects the market value of the property based on various factors.

When registering a property, the buyer will need to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 86 per sq.ft to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1644%.

What are the other streets in Nandhivaram with similar guideline values?

Other streets in Nandhivaram with a guideline value of Rs 1,500 per sq.ft include Sakthi Nagar Extn, Sadasivam Nagar, and Saraswathi Avenue.

What are the stamp duty and registration fees for property in Sakthi Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where is the Sub Registrar Office for Sakthi Nagar located?

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