Guideline Value for Sakthi Vijayalakshmi Nagar 3rd Cross Street

Sakthi Vijayalakshmi Nagar 3rd Cross Street guideline value

The current guideline value of Sakthi Vijayalakshmi Nagar 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sakthi Vijayalakshmi Nagar 3rd Cross Street has changed

The guideline value for Sakthi Vijayalakshmi Nagar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 196 per sq.ft. This increased to Rs 220 per sq.ft in 2003, marking a change of +12%. By 2007, the value rose significantly to Rs 1,800 per sq.ft, reflecting an increase of +718%. In 2012, the value reached Rs 4,000 per sq.ft, which was a +122% change from the previous revision. However, from 2012 to 2017, the value decreased by -33%, settling at Rs 2,680 per sq.ft. The most recent revision in 2024 shows a guideline value of Rs 4,400 per sq.ft, indicating a +64% increase from the 2017 figure.

It is important to note that there is no figure available for the 2023 revision for this street.

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 guideline value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sakthi Vijayalakshmi Nagar 3rd Cross Street.

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

Stamp duty and registration fee for property in Sakthi Vijayalakshmi Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sakthi Vijayalakshmi Nagar 3rd Cross Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid by the buyer. The higher of the guideline value or the sale price is considered for this calculation.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sakthi Vijayalakshmi Nagar 3rd Cross Street?

The current guideline value of Sakthi Vijayalakshmi Nagar 3rd Cross 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 significantly from Rs 196 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +2145% across the revisions.

What is the stamp duty for property in Sakthi Vijayalakshmi Nagar 3rd Cross Street?

The stamp duty for property in Sakthi Vijayalakshmi Nagar 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

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

What is the land classification for Sakthi Vijayalakshmi Nagar 3rd Cross Street?

The land classification for Sakthi Vijayalakshmi Nagar 3rd Cross Street is Residential Class II Type - II.