Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar in Thiruverkadu village, under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, this figure dropped to Rs 938 per sq.ft in 2017. The 2023 revision set the value at Rs 1,400 per sq.ft, and the latest revision in 2024 raised it to Rs 1,540 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 927%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is the same as the current guideline value for Sakthi Nagar.

• Sakthivel Nagar: Rs 1,540 per sq.ft (2024)
• Rathanam Nagar Annex: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street 1st Cross Street: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street Main Street: Rs 1,760 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,540 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 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. The duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sakthi Nagar area is covered by 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 Thiruverkadu

The guideline value is an essential factor during property transactions in Thiruverkadu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

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

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 927% over the years.

What is the land classification for Sakthi Nagar?

Sakthi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,38,600.

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

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