Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sakthi Nagar has changed

Over the years, the guideline value of Sakthi Nagar has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 400 per sq.ft, and the latest revision in 2024 has set it at Rs 440 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the guideline value has increased by 120%. The changes between the revisions include a 100% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a significant increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is the same as the guideline value for Sakthi Nagar.

• Sai Avenue: Rs 747 per sq.ft (2024)
• Sabarish Garden: Rs 440 per sq.ft (2024)
• Sangeetha Nagar: Rs 770 per sq.ft (2024)
• Sapthagirivasa Nagar: Rs 440 per sq.ft (2024)
• Sapthagirivasa Nagar II: Rs 440 per sq.ft (2024)
• Saraswathi Nagar: Rs 550 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilangadupakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

When a property transaction occurs, the seller and buyer must adhere to the guideline value to determine the official value of the property for registration purposes. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value of Sakthi Nagar changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting a total increase of 120% over the years.

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

For a property valued at the current guideline value of Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Sakthi Nagar?

The Redhills Sub Registrar Office covers Sakthi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Sakthi Nagar?

Sakthi Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.