Guideline Value for Sakthivel Nagar 7th Street

Sakthivel Nagar 7th Street guideline value

The current guideline value of Sakthivel Nagar 7th Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sakthivel Nagar 7th Street has changed

Over the years, the guideline value of Sakthivel Nagar 7th Street has seen significant changes. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This value increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 200% rise. 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 substantial increase of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,301 per sq.ft, representing a 10% increase from 2023.

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 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 value is Rs 3,301 per sq.ft, which is the same as the guideline value for Sakthivel Nagar 7th Street. Below are other streets in Peravallur with their respective guideline values:

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

Stamp duty and registration fee for property in Sakthivel Nagar 7th 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, charged at 7%, would be 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sakthivel Nagar 7th Street?

The Sub Registrar Office that covers Sakthivel Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Peravallur

The guideline value plays a crucial role when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and reflects the minimum value at which properties can be registered.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 7th Street?

The current guideline value of Sakthivel Nagar 7th 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, reflecting a total increase of 230% over the years.

What is the land classification for Sakthivel Nagar 7th Street?

The land classification for Sakthivel Nagar 7th Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for Sakthivel Nagar 7th Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 33,01,000, the total stamp duty and registration fees would amount to Rs 2,97,090.