Guideline Value for Sakthivel Nagar 2nd Street

Sakthivel Nagar 2nd Street guideline value

The current guideline value of Sakthivel Nagar 2nd 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 Street has changed

The guideline value for Sakthivel Nagar 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision for 2024 has set it at Rs 3,301 per sq.ft.

From 2017 to 2023, there was a substantial increase of 49%, followed by a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 230%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 guideline value is Rs 3,301 per sq.ft, which matches the current value for Sakthivel Nagar 2nd Street.

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

Stamp duty and registration fee for property in Sakthivel Nagar 2nd 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, bringing the total to 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 Street?

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

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When purchasing or selling property, the guideline value helps ensure that the transaction is recorded at an appropriate value, reflecting the current market conditions. This value is used by the registration office to calculate the applicable fees and taxes.

Frequently asked questions

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

The current guideline value of Sakthivel Nagar 2nd 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 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Sakthivel Nagar 2nd Street?

Sakthivel Nagar 2nd Street is classified as Residential Special Type - II, indicating its suitability for residential development.

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 the registration of properties in the area.

How is the stamp duty calculated for properties in Peravallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,01,000, the stamp duty would be calculated at 7% of that amount.