Guideline Value for Sakthi Vinayagan Nagar

Sakthi Vinayagan Nagar guideline value

The current guideline value of Sakthi Vinayagan Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This locality is situated in Serapanancheri village under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Sakthi Vinayagan Nagar has changed

The guideline value for Sakthi Vinayagan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 650 per sq.ft, which was then reduced to Rs 435 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 650 per sq.ft in the 2023 revision, and finally rose to Rs 720 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that the register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median guideline value for these streets is Rs 720 per sq.ft, which is equal to the current value of Sakthi Vinayagan Nagar.

• Sai Baba Nagar: Rs 990 per sq.ft (2024)
• Sastha Nagar: Rs 720 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Shanthi Durga Nagar: Rs 720 per sq.ft (2024)
• Shanthi Durga Nagar Extn: Rs 720 per sq.ft (2024)
• Shridi Saibaba Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Vinayagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total cost for these fees to Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Vinayagan Nagar?

The Sub Registrar Office covering Sakthi Vinayagan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Serapanancheri. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that aligns with the government's assessment.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. This value helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sakthi Vinayagan Nagar?

The current guideline value of Sakthi Vinayagan Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification of Sakthi Vinayagan Nagar?

Sakthi Vinayagan Nagar is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Sakthi Vinayagan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 50,400.