Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Endathure village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sakthi Nagar has changed

Since the 2007 revision, when the guideline value was Rs 20 per sq.ft, there have been several changes. The value increased significantly to Rs 100 per sq.ft in the 2012 revision, reflecting a growth of 400%. However, it decreased to Rs 67 per sq.ft in the 2017 revision, a reduction of 33%. The 2023 revision maintained the value at Rs 100 per sq.ft, and the upcoming 2024 revision will also keep it at Rs 100 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%, highlighting the fluctuations in the property valuation over the years.

Guideline values in Endathure

In Endathure, six streets fall under the Madurandakam SRO, with a 2024 guideline value range from Rs 100 to Rs 202 per sq.ft. The guideline value for Sakthi Nagar is equal to the median value of Rs 100 per sq.ft. Below are the guideline values for other streets in Endathure:

• Mullai Nagar: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 100 per sq.ft (2024)
• Vgp Royal Springs: Rs 202 per sq.ft (2024)
• K.K.Nagar: Rs 100 per sq.ft (2024)
• Diamond City: Rs 201 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee is 2%, amounting to Rs 2,000. Together, the total cost for stamp duty and registration fee is Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Endathure. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is bought or sold, the guideline value is referenced to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are paid to the government, reflecting 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 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 20 per sq.ft in 2007, increasing to Rs 100 in 2012, dropping to Rs 67 in 2017, and remaining at Rs 100 in both 2023 and 2024.

What are the other streets in Endathure with their guideline values?

Other streets in Endathure include Mullai Nagar and Madura Nagar, both at Rs 100 per sq.ft, Vgp Royal Springs at Rs 202 per sq.ft, K.K.Nagar at Rs 100 per sq.ft, and Diamond City at Rs 201 per sq.ft.

What is the stamp duty rate for property transactions in Sakthi Nagar?

The stamp duty rate for property transactions in Sakthi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sakthi Nagar located?

The Madurandakam Sub Registrar Office, which covers Sakthi Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.