Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

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

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 335 per sq.ft, before rising again to Rs 500 per sq.ft in both the 2023 and 2024 revisions. It is important to note that the register has no figures for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision is an increase of 233%. This indicates a significant growth in the guideline value over the years, reflecting the evolving landscape of property values in the area.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the current guideline value of Sakthi Nagar.

• Sabari Nagar: Rs 500 per sq.ft (2024)
• Sarojini Nagr: Rs 500 per sq.ft (2024)
• Selvi Enclave: Rs 500 per sq.ft (2024)
• Shanmuga Nagar Phase-I: Rs 500 per sq.ft (2024)
• Shiridi Sai Nagar: Rs 600 per sq.ft (2024)
• Shri Shanmuga Nagr Phase-IV: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which totals Rs 35,000, while the registration fee is charged at 2%, amounting to Rs 10,000. Therefore, the total cost for stamp duty and registration fees together is Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Orathur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with various revisions impacting the value over the years.

What is the land classification for Sakthi Nagar?

The land classification for Sakthi Nagar is Residential Special Type - II, which indicates its designated use for residential purposes.

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

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000 and the registration fee is Rs 10,000, totaling Rs 45,000. This is based on the current guideline value.

Where is the Sub Registrar Office for Sakthi Nagar located?

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