Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Irunkattukottai village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This guideline value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification.

How the guideline value of Sakthi Nagar has changed

Looking at the revisions, the guideline value for Sakthi Nagar was Rs 250 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years. Prior to this, in the 2017 revision, the value was Rs 167 per sq.ft, reflecting a 50% increase to reach the 2023 figure. The 2012 revision also had a value of Rs 250 per sq.ft, which indicates a decrease of 33% from the 2012 to 2017 period. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Sakthi Nagar is below this median.

• Sankar Nagar: Rs 250 per sq.ft (2024)
• Sabari Nagar: Rs 400 per sq.ft (2024)
• Saran Singh Street: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Rajalaxmi Nagar: Rs 400 per sq.ft (2024)
• Rajaji Street: 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 rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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 stamp duty. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a notable increase from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Sakthi Nagar?

Sakthi Nagar falls under the Residential Class IV Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 250 per sq.ft, the total fees would be Rs 22,500.

Which office handles property registration for Sakthi Nagar?

The Sriperumpudur Sub Registrar Office is responsible for property registration in Sakthi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.