Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of Sakthi Nagar has changed

The guideline value of Sakthi Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 140% increase. However, the value then decreased to Rs 402 per sq.ft in the 2017 revision, reflecting a 33% decrease. The 2023 revision saw a substantial rise to Rs 600 per sq.ft, which was a 49% increase from the previous figure. The most recent 2024 revision has set the guideline value at Rs 660 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, the guideline value has increased by 164% from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024.

Guideline values in Sundaracholavaram

Sundaracholavaram village has a total of 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the current guideline value of Sakthi Nagar.

• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthivel Nagar: Rs 660 per sq.ft (2024)
• Sakthivel Nagar Extension: Rs 660 per sq.ft (2024)
• Ram Nagar: Rs 660 per sq.ft (2024)
• Selliamman Koil street: Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty, charged at 7%, would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Therefore, the total cost for stamp duty and registration would be Rs 59,400. 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 Sakthi Nagar area falls under the jurisdiction of 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 Sundaracholavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the fair value of the property. This value is referenced during the registration process to calculate the necessary fees, thus playing a significant role in the overall transaction.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 164% across the years.

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

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

Where is the Kunrathur Sub Registrar Office located?

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

What is the land classification of Sakthi Nagar?

Sakthi Nagar falls under the Residential Class I Type - III land classification as per the guidelines.