Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Vengadamangalam village under the Gooduvancheri SRO, is Rs 800 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - II.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a remarkable rise of 400%. However, this value remained unchanged in the 2012 to 2017 period, where it dropped to Rs 536 per sq.ft, reflecting a decrease of 33%. The most recent 2023 revision has brought the guideline value back up to Rs 800 per sq.ft, representing an increase of 49% from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street. Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 400%.

Guideline values in Vengadamangalam

Currently, there are no specific village figures available for Vengadamangalam. Sakthi Nagar is one of the streets within this village. Unfortunately, there are no other streets in Vengadamangalam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total cost for these fees to Rs 72,000. It is essential to note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value in Vengadamangalam plays a crucial role during property transactions. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

When registering a property, the stamp duty and registration fees are 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 in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 800 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Sakthi Nagar?

The land classification for Sakthi Nagar is Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated in Sakthi Nagar?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 72,000.