Guideline Value for Sakthivel Nagar 5th Street

Sakthivel Nagar 5th Street guideline value

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

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

The guideline value for Sakthivel Nagar 5th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then saw a substantial increase to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,301 per sq.ft, representing a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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 is the same as the current value for Sakthivel Nagar 5th Street.

• Sakthivel Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 6th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 7th Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar 5th 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, the total cost for stamp duty and registration would be 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.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Sakthivel Nagar 5th Street?

The Sakthivel Nagar 5th Street falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

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

The current guideline value of Sakthivel Nagar 5th 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, showing an overall increase of 230% across the years.

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

Sakthivel Nagar 5th Street is classified as Residential Special Type - II, which indicates its purpose for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total cost of Rs 2,97,090 for these fees.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and is responsible for property registrations in this area.