Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 1,980 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value of Sakthi Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 165 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 142%. In 2012, the value was Rs 1,800 per sq.ft, which was a 350% increase from the previous revision. However, in 2017, the value dropped to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 1,800 per sq.ft in 2023, followed by the current value of Rs 1,980 per sq.ft in 2024, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1100%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Sakthi Nagar's 2024 figure below this median.

• Sakthi Nagar Varasithi Vinayagar Street: Rs 1,980 per sq.ft (2024)
• Sai Street: Rs 2,200 per sq.ft (2024)
• Sandhiyamman Nagar: Rs 1,980 per sq.ft (2024)
• Santhanakrishna Layout: Rs 2,160 per sq.ft (2024)
• Sabari street: Rs 3,300 per sq.ft (2024)
• Rukmani ammal Street: Rs 2,160 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty is charged at 7%, which totals Rs 1,38,600, and the registration fee at 2% amounts to Rs 39,600. Therefore, the total cost for stamp duty and registration fees together is Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar?

The Sakthi Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the applicable fees and taxes.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,980 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 165 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 1100% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty is Rs 1,38,600 and the registration fee is Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Sakthi Nagar?

The Pallavaram Sub Registrar Office covers Sakthi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Sakthi Nagar?

The land classification for Sakthi Nagar is Residential Class II Type - I, indicating its designation for residential use.