Guideline Value for Sakthi Vilas

Sakthi Vilas guideline value

The current guideline value of Sakthi Vilas is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Neelamangalam village, under the Gooduvancheri SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sakthi Vilas has changed

The guideline value for Sakthi Vilas has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 402 per sq.ft. In 2023, the value remained unchanged at Rs 600 per sq.ft, and this rate has been maintained in the 2024 revision, indicating no percentage change from the previous year. The overall change from the 2017 revision to the 2024 revision is an increase of 49%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The 2024 revision shows a stable value compared to the 2023 revision, reflecting consistency in the guideline value over recent years.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the guideline value of Sakthi Vilas.

• Sapthagiri Nagar: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar (Extn): Rs 500 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• Senthil Nagar-II: Rs 400 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Vilas

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees together Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Vilas?

The Sub Registrar Office that covers Sakthi Vilas is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Neelamangalam. It serves as the basis for determining the stamp duty and registration fees when buying or selling a property. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements and to calculate the associated costs.

When a property is sold, the guideline value helps in establishing a legal framework for the transaction, ensuring that the property is registered at a value that reflects the official rates set by the government. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Sakthi Vilas?

The current guideline value of Sakthi Vilas is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sakthi Vilas has remained at Rs 600 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 402 per sq.ft in 2017.

What is the land classification of Sakthi Vilas?

Sakthi Vilas is classified as Residential Class IV Type - II, indicating its designation for residential use.

Which Sub Registrar Office covers the Sakthi Vilas area?

The Gooduvancheri Sub Registrar Office covers the Sakthi Vilas area, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sakthi Vilas?

Stamp duty for properties in Sakthi Vilas is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 54,000, including stamp duty and registration fees.