Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 880 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

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a significant rise of 140%. However, the value then decreased to Rs 402 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value surged to Rs 800 per sq.ft, representing a remarkable increase of 99%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Sakthi Nagar in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, indicating that Sakthi Nagar's 2024 figure is below this median.

• Sai Sri Boobathi Nagar: Rs 2,200 per sq.ft (2024)
• Sai Sampath Nagar: Rs 2,310 per sq.ft (2024)
• Sagunthala Avenue: Rs 2,750 per sq.ft (2024)
• Royal City: Rs 1,800 per sq.ft (2024)
• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,210 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total charges Rs 79,200. It is important to note that 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Malayambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value is used to calculate the applicable duties, which can significantly impact the overall cost of the transaction. Therefore, understanding the guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Sakthi Nagar?

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

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Class I Type - II, which indicates its designation for residential purposes within the area.