Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is located in Thiruneermalai village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 395 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a change of +105%. The value further rose to Rs 1,474 per sq.ft in 2017, reflecting an increase of +82%. In the subsequent 2023 revision, it reached Rs 2,200 per sq.ft, a notable rise of +49%. The latest revision in 2024 sets the guideline value at Rs 2,420 per sq.ft, which is a +10% increase from the previous year.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +513%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which is the same as the guideline value for Sakthi Nagar.

• Sangam Road: Rs 2,420 per sq.ft (2024)
• Sabapathy Nagar: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Main Road: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (East): Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (West): Rs 2,860 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 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, these charges would total Rs 2,17,800. It is important to note that the 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 Sub Registrar Office that covers Sakthi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that they are based on the officially recognized value of the property. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 395 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of +513% over this period.

What is the land classification for Sakthi Nagar?

Sakthi Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Sakthi Nagar?

The Sub Registrar Office for Sakthi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Sakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,20,000 would incur a stamp duty of Rs 1,69,400 at 7%.