Guideline Value for Sakthi Vel Nagar

Sakthi Vel Nagar guideline value

The current guideline value of Sakthi Vel Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, classified as Residential Class III Type - II.

How the guideline value of Sakthi Vel Nagar has changed

The guideline value for Sakthi Vel Nagar has undergone several revisions over the years. Starting from Rs 87 per sq.ft in 2002, it increased to Rs 100 in 2003, marking a 15% rise. By 2007, the value surged to Rs 200 per sq.ft, reflecting a 100% increase. The 2012 revision saw a significant jump to Rs 1,400 per sq.ft, which was a 600% increase from 2007. However, in 2017, the value decreased to Rs 938 per sq.ft, showing a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, representing a 60% increase from 2017.

It is important to note that there is no figure available for the 2023 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1624%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value of Sakthi Vel Nagar is below this median.

• Sakthi Street(Devi Nagar): Rs 2,400 per sq.ft (2024)
• Sakunthalam street(srisakthi nagar): Rs 2,400 per sq.ft (2024)
• Sairam Nagar: Rs 880 per sq.ft (2024)
• Sai Prabhu Batha Street(Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Saibaba Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Sannathi Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Vel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total charges Rs 1,35,000. 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 Vel Nagar?

The Sub Registrar Office that covers Sakthi Vel Nagar 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 more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the appropriate fees are collected. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sakthi Vel Nagar?

The current guideline value of Sakthi Vel Nagar is Rs 1,500 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 87 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, with various revisions affecting the value over the years.

What is the land classification of Sakthi Vel Nagar?

Sakthi Vel Nagar is classified as Residential Class III Type - II, which is relevant for determining the guideline value and property usage.

Where can I find the Sub Registrar Office for Sakthi Vel Nagar?

The Sub Registrar Office for Sakthi Vel Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Sakthi Vel Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a stamp duty of Rs 1,05,000.