Guideline Value for Sakthivel Nagar 3rd Cross Street

Sakthivel Nagar 3rd Cross Street guideline value

The current guideline value of Sakthivel Nagar 3rd 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 3rd Cross Street has changed

The guideline value for Sakthivel Nagar 3rd Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 360 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 800 per sq.ft in 2007, an increase of 104%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial 275% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,301 per sq.ft, representing a 10% increase from the previous year.

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

Guideline values in Peravallur

In Peravallur, 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 equal to the guideline value of Sakthivel Nagar 3rd Cross Street.

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

Stamp duty and registration fee for property in Sakthivel Nagar 3rd 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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Nagar 3rd Cross Street?

The Sub Registrar Office that covers Sakthivel Nagar 3rd 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 in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Sakthivel Nagar 3rd 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, with various increases and one decrease along the way.

What is the land classification for Sakthivel Nagar 3rd Cross Street?

The land classification for Sakthivel Nagar 3rd Cross Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sakthivel Nagar 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a plot with a guideline value of Rs 33,01,000 would incur a stamp duty of Rs 2,31,070 and a registration fee of Rs 66,020.