Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 300 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012. However, this was followed by a decrease to Rs 938 per sq.ft in 2017. The 2023 revision raised it to Rs 1,800 per sq.ft, and the most recent 2024 revision has brought it to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 300 in 2007 to Rs 1,980 in 2024, showcasing an overall increase of 560%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Chikkarayapuram

Chikkarayapuram village has a total of 61 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, which is equal to the current value of Sakthi Nagar.

• Sangamithra Avenue: Rs 1,980 per sq.ft (2024)
• R.K.M. Nagar: Rs 1,980 per sq.ft (2024)
• Sarasvathi Nagar: Rs 1,430 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• Sivasakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sivasakthi Nagar Annex: Rs 1,760 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with significant fluctuations in between.

What is the land classification of Sakthi Nagar?

The land classification for Sakthi Nagar is Mixed Special Type - I, which indicates the type of development allowed in the area.

What are the stamp duty rates for property in Sakthi Nagar?

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

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

The Sub Registrar Office for Sakthi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.