Guideline Value for Sakthi Vijayalakshmi Nagar 2nd Street

Sakthi Vijayalakshmi Nagar 2nd Street guideline value

The current guideline value of Sakthi Vijayalakshmi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Sakthi Vijayalakshmi Nagar 2nd Street has changed

The guideline value for Sakthi Vijayalakshmi Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 100% increase. However, this value saw a decrease of 33% to Rs 2,680 per sq.ft in 2017. The most recent revision in 2024 shows a significant increase of 64%, bringing the current value to Rs 4,400 per sq.ft.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sakthi Vijayalakshmi Nagar 2nd Street.

• Sakthi Vijayalakshmi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar (Facing Bye-Pass Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Vijayalakshmi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Vijayalakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Sakthi Vijayalakshmi Nagar 2nd Street 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 Velachery

The guideline value is a crucial reference point when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Vijayalakshmi Nagar 2nd Street?

The current guideline value of Sakthi Vijayalakshmi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 120%.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include Sakthi Vijayalakshmi Nagar 2nd Cross Street, 3rd Cross Street, 1st Street, 3rd Street, and 1st Cross Street.

What is the registration fee for property in Sakthi Vijayalakshmi Nagar 2nd Street?

The registration fee for property in Sakthi Vijayalakshmi Nagar 2nd Street is 2% of the guideline value, which would amount to Rs 88,000 for a 1,000 sq.ft plot at the current rate.

Where is the Sub Registrar Office for Sakthi Vijayalakshmi Nagar 2nd Street located?

The Sub Registrar Office for Sakthi Vijayalakshmi Nagar 2nd Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.