Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Sriperumbudur A village, under the Sriperumpudur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. The most recent revisions show that the guideline value has remained steady at Rs 1,200 per sq.ft for both 2023 and 2024. Prior to this, the 2017 revision set the value at Rs 804 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the only revisions that provide a guideline value are from 2017, 2023, and 2024.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Sakthi Nagar is above this median, indicating a higher valuation compared to many other streets in the area.

• Samsu Nagar: Rs 1,000 per sq.ft (2024)
• Sai Nagar: Rs 1,000 per sq.ft (2024)
• Sai Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Sai Garden: Rs 1,500 per sq.ft (2024)
• Sannathi Street: Rs 700 per sq.ft (2024)
• Santhi Avenue: Rs 800 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty is charged at 7%, amounting to Rs 84,000, and the registration fee is charged at 2%, totaling Rs 24,000. Together, the total cost for stamp duty and registration fees would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Sriperumbudur A

The guideline value plays a crucial role when buying or selling property in Sriperumbudur A. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers should be aware that the guideline value is often considered the baseline for these fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sakthi Nagar?

The current guideline value for Sakthi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sakthi Nagar has remained at Rs 1,200 per sq.ft for both 2023 and 2024. It increased from Rs 804 per sq.ft in 2017, representing a 49% increase overall from 2017 to 2024.

What is the land classification for Sakthi Nagar?

Sakthi Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000 for both fees combined.

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.