Guideline Value for Sakthipuram

Sakthipuram guideline value

The current guideline value of Sakthipuram, located in Ernavur village under the Thiruvottiyur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sakthipuram has changed

The guideline value for Sakthipuram has seen significant changes over the years. In 2002, the value was Rs 176 per sq.ft, which increased to Rs 201 per sq.ft in 2003. The value then rose to Rs 350 per sq.ft in 2007, followed by a substantial jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,800 per sq.ft in 2024.

Looking at the changes, from 2002 to 2024, the overall increase is a remarkable 2059%. The most notable change was from 2007 to 2012, where the value surged by 900%. From 2017 to 2023, the value increased by 49%, and the jump from 2023 to 2024 was 9%. There are no figures available for the revisions in the years not listed.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Sakthipuram is above this median.

• Sakthipuram Main Road: Rs 3,800 per sq.ft (2024)
• Rukmani Nagar: Rs 1,800 per sq.ft (2024)
• Ramanathapuram Nagar/Street: Rs 1,600 per sq.ft (2024)
• Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar: Rs 2,400 per sq.ft (2024)
• Shanthi Colony: Rs 1,400 per sq.ft (2024)
• Rajiv Gandhi Nagar (Corner Plots): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthipuram?

The Sub Registrar Office covering Sakthipuram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ernavur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

Additionally, the guideline value serves as a reference point for both buyers and sellers, providing a clear understanding of the property's worth within the local market. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sakthipuram?

The current guideline value of Sakthipuram is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 2059% over the years.

What is the land classification for Sakthipuram?

The land classification for Sakthipuram is Commercial Class I Type - I.

Where is the Sub Registrar Office for Sakthipuram located?

The Sub Registrar Office for Sakthipuram is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for property in Sakthipuram?

Stamp duty for property in Sakthipuram is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,42,000.