Guideline Value for Sakthi nagar (contonment backside)

Sakthi nagar (contonment backside) guideline value

The current guideline value of Sakthi nagar (contonment backside) is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sakthi nagar (contonment backside) has changed

The guideline value for Sakthi nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012. However, this value dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the latest 2024 revision has set it at Rs 2,740 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The substantial rise from 2007 to 2012 of 1150% reflects the changing dynamics of the area. Overall, from 2007 to 2024, the guideline value has increased by 1270%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, making the current value of Sakthi nagar above this median.

• Sakthi nagar: Rs 3,250 per sq.ft (2024)
• Sannadhi street: Rs 2,200 per sq.ft (2024)
• Sabapathi mudaliar street: Rs 2,200 per sq.ft (2024)
• Rukmani nagar: Rs 3,250 per sq.ft (2024)
• Rosi Garden: Rs 2,200 per sq.ft (2024)
• Sarathi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi nagar (contonment backside)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total fees to Rs 2,46,600. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi nagar (contonment backside)?

The Sub Registrar Office that covers Sakthi nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Poonthamallee, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees owed at the time of sale.

During the registration process, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sakthi nagar?

The current guideline value of Sakthi nagar (contonment backside) is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 1270% over the years.

What are the stamp duty rates for properties in Sakthi nagar?

The stamp duty for properties in Sakthi nagar is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800.

Where can I find the Sub Registrar Office for Sakthi nagar?

The Sub Registrar Office for Sakthi nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft, with Sakthi nagar's current value being above this median.