Guideline Value for Sakthivel Nagar 3rd Street

Sakthivel Nagar 3rd Street guideline value

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

The guideline value for Sakthivel Nagar 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, which is a decline of 33% from the previous revision. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,301 per sq.ft in 2024, reflecting a 10% rise.

Between 2017 and 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 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, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, which is the same as the current value for Sakthivel Nagar 3rd Street.

• Sakthivel Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 2nd Cross Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar 3rd 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, these fees would total Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthivel Nagar 3rd Street?

The Sub Registrar Office that covers Sakthivel Nagar 3rd 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 registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value 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 during the transaction process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the official assessment of the property’s worth. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

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

The current guideline value of Sakthivel Nagar 3rd Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, representing a total increase of 230% since 2007.

What are the stamp duty and registration fees for property in Sakthivel Nagar 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,01,000. The stamp duty at 7% amounts to Rs 2,31,070, and the registration fee at 2% is Rs 66,020, totaling Rs 2,97,090.

Which Sub Registrar Office covers Sakthivel Nagar 3rd Street?

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

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

Sakthivel Nagar 3rd Street is classified as Residential Special Type - II, which is important for understanding its use and potential for development.