Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. In 2007, the rate was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 300%. However, it then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, followed by the latest revision to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Irumpuliyur

The village of Irumpuliyur has 218 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the guideline value of Sakthi Nagar.

• Sairam Street: Rs 2,530 per sq.ft (2024)
• Sangazhinamman Koil Street: Rs 2,530 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)
• Sarma Street: Rs 2,530 per sq.ft (2024)
• Roja Thottam 2nd Street: Rs 1,650 per sq.ft (2024)
• Roja Thottam 1st Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sakthi Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, 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 from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Special Type - II, which is relevant for property development and regulations in the area.

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

The Sub Registrar Office covering Sakthi Nagar is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the 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 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.