Guideline Value for Sakthikan Mestri Street

Sakthikan Mestri Street guideline value

The current guideline value of Sakthikan Mestri Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthikan Mestri Street has changed

The guideline value for Sakthikan Mestri Street has seen several revisions over the years. In 2002, the guideline value was Rs 3,471 per sq.ft. This figure dropped significantly to Rs 353 per sq.ft in 2003, marking a decrease of 90%. The value then increased to Rs 500 per sq.ft in 2007, representing a rise of 42%. Following this, the guideline value rose substantially to Rs 1,700 per sq.ft in 2012, which was a 240% increase from the previous revision. However, it then decreased by 33% to Rs 1,139 per sq.ft in 2017. The latest revisions show an increase to Rs 1,700 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 1,870 per sq.ft in 2024.

There are no figures available for the revisions in the years not listed for this street.

Guideline values in Naravarikuppam

Naravarikuppam has a range of guideline values for its streets, with 112 streets under the Redhills SRO carrying a 2024 figure ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Sakthikan Mestri Street's 2024 figure above this median.

• R.R.C. Road: Rs 2,200 per sq.ft (2024)
• Ramalinga Nagar: Rs 2,200 per sq.ft (2024)
• Ramalinga Adigalar Street: Rs 2,200 per sq.ft (2024)
• Shankaralinganar Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Raghavel Naicker Street Lane: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthikan Mestri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sakthikan Mestri Street?

The Sub Registrar Office that covers Sakthikan Mestri Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for property transactions.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthikan Mestri Street?

The current guideline value of Sakthikan Mestri Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, experiencing various increases and decreases across revisions.

What is the land classification for Sakthikan Mestri Street?

The land classification for Sakthikan Mestri Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sakthikan Mestri Street?

The Sub Registrar Office for Sakthikan Mestri Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Naravarikuppam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is important to refer to the current guideline value to determine the applicable stamp duty and registration fees during property transactions.