Guideline Value for Sakthivel 3rd Street

Sakthivel 3rd Street guideline value

The current guideline value of Sakthivel 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Sakthivel 3rd Street has changed

The guideline value for Sakthivel 3rd Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, this figure dropped to Rs 536 per sq.ft in 2017, a decrease of 33%. The value then surged to Rs 1,000 per sq.ft in 2023, reflecting an increase of 87%. The current value of Rs 1,100 per sq.ft in 2024 represents a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, indicating that the 2024 figure for Sakthivel 3rd Street is below this median.

• Sakthivel Nagar: Rs 1,100 per sq.ft (2024)
• Sangeetha Avenue: Rs 1,102 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,102 per sq.ft (2024)
• Sankaralinganar Cross Street: Rs 1,100 per sq.ft (2024)
• Sankaralinganar Street: Rs 1,100 per sq.ft (2024)
• Santhini Avenue: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sakthivel 3rd Street?

The Sub Registrar Office that covers Sakthivel 3rd 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Puzhal. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When a property is registered, the guideline value serves as a benchmark for calculating these fees, ensuring that the appropriate amounts are levied based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sakthivel 3rd Street?

The current guideline value of Sakthivel 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Sakthivel 3rd Street?

The Redhills Sub Registrar Office covers Sakthivel 3rd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value for streets in Puzhal?

The median guideline value for streets in Puzhal is Rs 1,102 per sq.ft, with Sakthivel 3rd Street's current value being slightly below this median.