Guideline Value for Sakthivel Nagar 4th Street

Sakthivel Nagar 4th Street guideline value

The current guideline value of Sakthivel Nagar 4th Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Sakthivel Nagar 4th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The value rose again to Rs 3,000 per sq.ft in the 2023 revision, showing a 49% increase. The most recent revision in 2024 set the value at Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, 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 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Sakthivel Nagar 4th Street.

• Sakthivel Nagar 4th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 3rd Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 5th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar 4th 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, totaling Rs 2,97,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Nagar 4th Street?

The Sub Registrar Office that covers Sakthivel Nagar 4th 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 critical factor in property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the transaction is recorded at a fair price according to the local market standards.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the official value of the property. This value is essential for legal documentation and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 4th Street?

The current guideline value of Sakthivel Nagar 4th 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, marking a total increase of 230% over the years.

What are the other streets with the same guideline value in Peravallur?

Other streets in Peravallur with a guideline value of Rs 3,301 per sq.ft include Sakthivel Nagar 4th Cross Street, Sakthivel Nagar 5th Cross Street, Sakthivel Nagar 3rd Street, Sakthivel Nagar 5th Street, Sakthivel Nagar 3rd Cross Street, and Sakthivel Nagar 6th Cross Street.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated on properties in Sakthivel Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.