Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. The latest revision in 2024 has increased this to Rs 2,200 per sq.ft, reflecting a change of +64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

As a result, the guideline value has seen a significant increase from the previous revision. The latest value places Sakthi Nagar below the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Sakthi Nagar's 2024 guideline value of Rs 2,200 per sq.ft is below this median.

• Sakthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sakthi Avenue: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Extension/Thirumurugan Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Extn: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial element during property registration in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the authorities.

When buying or selling property, the guideline value helps in determining the legal sale price and ensures transparency in the transaction process. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is an increase of +64%.

Are there any years with no guideline value figures for Sakthi Nagar?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Sakthi Nagar.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than Sakthi Nagar's current value of Rs 2,200 per sq.ft.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.