Guideline Value for Sakthivel Nagar 8th Street

Sakthivel Nagar 8th Street guideline value

The current guideline value of Sakthivel Nagar 8th Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Sakthivel Nagar 8th Street has changed

Over the years, the guideline value of Sakthivel Nagar 8th Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft. The next revision in 2023 raised it to Rs 3,000 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 3,301 per sq.ft. There are no figures available in the register for the years 2002 and 2003.

From 2007 to 2012, the guideline value increased by 200%. However, between 2012 and 2017, it decreased by 33%. The value then rose by 49% from 2017 to 2023. The latest increase from 2023 to 2024 is 10%. Overall, the guideline value has increased by 230% from 2007 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with 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 8th Street.

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

Stamp duty and registration fee for property in Sakthivel Nagar 8th 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, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration fee would be Rs 2,97,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthivel Nagar 8th Street?

The Sub Registrar Office that covers Sakthivel Nagar 8th 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 crucial factor in the property registration process in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to note that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar 8th Street?

The current guideline value of Sakthivel Nagar 8th 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 multiple times, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 230% over the years.

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

Other streets in Peravallur with the same 2024 guideline value of Rs 3,301 per sq.ft include Sakthivel Nagar 7th Street, 6th Street, 6th Cross Street, Main Road, 5th Street, and 5th Cross Street.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. It handles property registrations in the area.

How is stamp duty calculated for properties in Sakthivel Nagar 8th Street?

Stamp duty for properties in Sakthivel Nagar 8th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.