Guideline Value for Sakthi Sai Nagar (Ward-07)

Sakthi Sai Nagar (Ward-07) guideline value

The current guideline value of Sakthi Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Sakthi Sai Nagar (Ward-07) has changed

Over the years, the guideline value of Sakthi Sai Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision and is now Rs 1,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The latest increase from 2023 to 2024 is 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, the 2024 guideline values range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sakthi Sai Nagar is below this median.

• Sakthi Nagar, Periyasekkadu (Ward-01): Rs 1,300 per sq.ft (2024)
• Sakthivel Nagar: Rs 1,300 per sq.ft (2024)
• Sakthivel Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Sai Nagar (Ward-07)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 Sai Nagar (Ward-07)?

The Sakthi Sai Nagar (Ward-07) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is taken into consideration to calculate the applicable fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sakthi Sai Nagar (Ward-07)?

The current guideline value of Sakthi Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the land classification of Sakthi Sai Nagar?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.