Guideline Value for Sakthivel Nagar 2nd Cross Street

Sakthivel Nagar 2nd Cross Street guideline value

The current guideline value for Sakthivel Nagar 2nd Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Sakthivel Nagar 2nd Cross Street has changed

The guideline value for Sakthivel Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 360 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a 9% rise. Following this, the value surged to Rs 800 per sq.ft in 2007, reflecting a significant increase of 104%. In 2012, the value adjusted to Rs 3,000 per sq.ft, representing a 275% increase from the previous figure. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, which was a reduction of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,000 per sq.ft, showcasing a 49% increase. The most recent revision in 2024 has further increased the value to Rs 3,301 per sq.ft, which is a 10% rise from the previous year. There are no figures available for any other years for this street in the register.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value 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 2nd Cross Street.

• Sakthivel Nagar 1st 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 1st 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 2nd 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, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration fee 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sakthivel Nagar 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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 stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during registration.

When a property is registered, the guideline value is assessed to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the government receives the necessary revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sakthivel Nagar 2nd Cross Street?

The current guideline value for Sakthivel Nagar 2nd 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 from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% across the years.

What is the stamp duty rate for properties in Sakthivel Nagar 2nd Cross Street?

The stamp duty rate for properties in Sakthivel Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sakthivel Nagar 2nd Cross Street located?

The Sub Registrar Office for Sakthivel Nagar 2nd Cross Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure accurate recording and compliance with local regulations.