Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. Starting from Rs 70 per sq.ft in 2002, it increased to Rs 90 per sq.ft in 2003, marking a 29% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, a remarkable increase of 344%. Following this, the value rose to Rs 1,000 per sq.ft in 2012, representing a 150% increase. However, in 2017, the value fell to Rs 670 per sq.ft, a decrease of 33%. The guideline value then increased again to Rs 1,000 per sq.ft in 2023, and finally to the current rate of Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,471%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing Sakthi Nagar's 2024 figure below that median.

• Sakthi nagar 1st street (sakthi nagar): Rs 1,100 per sq.ft (2024)
• Sakthi nagar 2nd street (sakthi nagar): Rs 1,100 per sq.ft (2024)
• Sakthi Street: Rs 1,100 per sq.ft (2024)
• Sambu prasath Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• R..V. Kamalammal Street: Rs 1,100 per sq.ft (2024)
• RuckmaniAmmal Street(Santhosh nagar): Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Ayappakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value of Sakthi Nagar changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Class I Type - II according to the guideline value register.

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

The Sub Registrar Office for Sakthi Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is 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 with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.