Guideline Value for Sakthivel Nagar 1st Cross Street

Sakthivel Nagar 1st Cross Street guideline value

The current guideline value of Sakthivel Nagar 1st Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sakthivel Nagar 1st Cross Street has changed

The guideline value for Sakthivel Nagar 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 800 per sq.ft, representing a significant increase of 104%. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 275% from the previous figure. The value then increased to Rs 2,010 per sq.ft in 2017, reflecting a 49% increase, and further rose to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 817%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is the same as the current guideline value for Sakthivel Nagar 1st Cross Street.

• Sakthivel Nagar 1st Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 2nd Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 3rd Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Cross Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Together, the total cost would be Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sakthivel Nagar 1st Cross Street?

The Sub Registrar Office that covers Sakthivel Nagar 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to ensure that the transaction is recorded at a fair price. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 1st Cross Street?

The current guideline value of Sakthivel Nagar 1st Cross Street is Rs 3,301 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 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

What is the land classification for Sakthivel Nagar 1st Cross Street?

The land classification for Sakthivel Nagar 1st Cross Street is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Sakthivel Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,070.