Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Kilay village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 46 per sq.ft. This increased significantly to Rs 400 per sq.ft in the 2012 revision. However, in 2017, the value decreased to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, which was also the figure for the 2024 revision, indicating no change from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 770%. The changes between specific revisions include a 770% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017, and a subsequent increase of 49% from 2017 to 2023. The guideline value remained stable at Rs 400 per sq.ft from 2023 to 2024.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Sakthi Nagar is above this median.

• Sai Garden: Rs 400 per sq.ft (2024)
• SDN Agro Farms: Rs 400 per sq.ft (2024)
• Poomagal Nagar: Rs 200 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Mahaganapathy Nagar: 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. Duty is charged on the higher of the guideline value and 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 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 Kilay

The guideline value plays a crucial role in the registration process of property transactions in Kilay. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 46 per sq.ft in 2007 to Rs 400 per sq.ft in 2012. It remained at Rs 400 per sq.ft in the 2023 and 2024 revisions.

What is the land classification for Sakthi Nagar?

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

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

The stamp duty is calculated at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 36,000.

Where is the Sub Registrar Office for Sakthi Nagar located?

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