Guideline Value for Sakthivel Nagar Extension

Sakthivel Nagar Extension guideline value

The current guideline value of Sakthivel Nagar Extension is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Sundaracholavaram village, under the Kunrathur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Sakthivel Nagar Extension has changed

Over the years, the guideline value of Sakthivel Nagar Extension has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, it saw a decrease to Rs 402 per sq.ft in 2017, which is a 33% drop. The value then rose sharply to Rs 600 per sq.ft in 2023, and further increased to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 164%, showcasing a considerable increase over the years.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, which is equal to the 2024 figure for Sakthivel Nagar Extension.

• Sakthivel Nagar: Rs 660 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sakthi Nagar: Rs 660 per sq.ft (2024)
• Selliamman Koil street: Rs 660 per sq.ft (2024)
• Selliamman Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, resulting in Rs 46,200, while the registration fee at 2% amounts to Rs 13,200. Therefore, the total cost for stamp duty and registration fee together is Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Nagar Extension?

The Sub Registrar Office that covers Sakthivel Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sundaracholavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar Extension?

The current guideline value of Sakthivel Nagar Extension is Rs 660 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 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 164% over the years.

What are the stamp duty and registration fees for property in Sakthivel Nagar Extension?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Sakthivel Nagar Extension?

The Kunrathur Sub Registrar Office covers Sakthivel Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sakthivel Nagar Extension?

Sakthivel Nagar Extension is classified as Residential Class I Type - III, indicating its suitability for residential development.