Guideline Value for Sakthivel Nagar 6th Street

Sakthivel Nagar 6th Street guideline value

The current guideline value of Sakthivel Nagar 6th 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 6th Street has changed

The guideline value for Sakthivel Nagar 6th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by another increase to the current rate of Rs 3,301 per sq.ft in 2024, which is a 10% increase from the previous year.

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

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that have a 2024 guideline value 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 equal to the current value of Sakthivel Nagar 6th Street.

• Sakthivel Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 7th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 5th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 8th Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Sakthivel Nagar 4th Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be 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 stamp 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 6th Street?

The Sub Registrar Office that covers Sakthivel Nagar 6th 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 an essential factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 6th Street?

The current guideline value of Sakthivel Nagar 6th 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 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, with various revisions in between. The most notable change was a 200% increase from 2007 to 2012, followed by a decline and subsequent increases in later years.

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

Other streets in Peravallur that share the same guideline value of Rs 3,301 per sq.ft include Sakthivel Nagar 6th Cross Street, 7th Street, 5th Street, 8th Street, 5th Cross Street, and 4th Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is the stamp duty calculated for property transactions?

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