Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 605 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III 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 2012 revision set the value at Rs 400 per sq.ft, which increased slightly to Rs 402 per sq.ft in 2017. Following this, the value rose significantly to Rs 600 per sq.ft in 2023, marking a 49% increase from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 605 per sq.ft, reflecting a 1% increase from the previous year.

It is important to note that there are no registered figures for Sakthi Nagar in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 51%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Sakthi Nagar's 2024 figure above that median.

• Sakthi Vinayagar Street: Rs 700 per sq.ft (2024)
• Sagaya Annai Nagar -I: Rs 600 per sq.ft (2024)
• Santha Nagar: Rs 600 per sq.ft (2024)
• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• Sathya Nagar: Rs 605 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 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total cost for these fees to Rs 54,450. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Molachoor, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value ensures transparency in property dealings and helps in assessing the fair value of properties in the region.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, reflecting an overall increase of 51% over this period.

What is the land classification for Sakthi Nagar?

Sakthi Nagar is classified under Residential Class III Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350, and the registration fee would be Rs 12,100, totaling Rs 54,450.

Which Sub Registrar Office covers Sakthi Nagar?

The Sunguvarchattram Sub Registrar Office covers Sakthi Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.