Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Mudichur village under the Padappai SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

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 value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012, marking a substantial rise of 540%. However, the value decreased to Rs 1,072 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 1,600 per sq.ft in 2023, and most recently, it increased to Rs 1,760 per sq.ft in 2024, a change of 10%.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 604%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sakthi Nagar's 2024 figure below this median.

• Saranga Avenue: Rs 3,630 per sq.ft (2024)
• Sarang Avenue 4th Street: Rs 3,630 per sq.ft (2024)
• Saravanabhava Nagar: Rs 3,630 per sq.ft (2024)
• Sasikumar Nagar: Rs 1,210 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Sathyavani Muthu Street: 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 1,760 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 1,760 per sq.ft in 2024, reflecting an overall increase of 604% over the years.

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

The stamp duty is charged at 7%, while the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Mudichur?

The median guideline value for the 135 streets in Mudichur is Rs 2,200 per sq.ft, with Sakthi Nagar's 2024 figure being below this median.