Guideline Value for Sakthi Street

Sakthi Street guideline value

The current guideline value of Sakthi Street in Ayappakkam village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Sakthi Street has changed

The guideline value for Sakthi Street has undergone several revisions over the years. In 2002, the value was Rs 69 per sq.ft, which increased to Rs 90 per sq.ft in 2003, marking a 30% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 344% increase. By 2012, the guideline value was Rs 1,000 per sq.ft, a decrease of 150% from the previous revision. The value then rose again to Rs 670 per sq.ft in 2017, showing a 49% increase. In 2023, it reached Rs 1,000 per sq.ft, and the latest revision in 2024 set it at Rs 1,100 per sq.ft, representing a 10% increase.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1494%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Sakthi Street's 2024 figure below that median.

• Sakthi nagar 2nd street (sakthi nagar): Rs 1,100 per sq.ft (2024)
• Sakthi nagar 1st street (sakthi nagar): Rs 1,100 per sq.ft (2024)
• Sambu prasath Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Santhosh Nagar: Rs 1,100 per sq.ft (2024)
• Santhosh nagar 1st Street(Santhosh Nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Sakthi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to the official rates set by the government.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Street?

The current guideline value of Sakthi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 69 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing a significant increase over the years with various revisions.

What is the land classification for Sakthi Street?

Sakthi Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property on Sakthi Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for properties in Ayappakkam?

The Ambattur Sub Registrar Office handles registrations for properties in Ayappakkam, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.