Guideline Value for Sakthivel Nagar 5th Cross Street

Sakthivel Nagar 5th Cross Street guideline value

The current guideline value of Sakthivel Nagar 5th 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, classified as Residential Special Type - II.

How the guideline value of Sakthivel Nagar 5th Cross Street has changed

The guideline value for Sakthivel Nagar 5th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase, and finally reached Rs 3,301 per sq.ft in 2024, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

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 guideline value is Rs 3,301 per sq.ft, which matches the current value of Sakthivel Nagar 5th Cross Street.

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

Stamp duty and registration fee for property in Sakthivel Nagar 5th 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, 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 5th Cross Street?

The Sub Registrar Office that covers Sakthivel Nagar 5th Cross 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 during property registration in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value helps in calculating the necessary fees and duties. This ensures that the transaction is recorded accurately and reflects the value recognized by the government for taxation purposes.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 5th Cross Street?

The current guideline value of Sakthivel Nagar 5th 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 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the land classification for Sakthivel Nagar 5th Cross Street?

Sakthivel Nagar 5th Cross Street is classified as Residential Special Type - II.

Where is the Sub Registrar Office located?

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

How is stamp duty calculated for properties in Sakthivel Nagar 5th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,070.