Guideline Value for Sakthivel Nagar Main Road

Sakthivel Nagar Main Road guideline value

The current guideline value of Sakthivel Nagar Main Road 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 the land classification is Residential Special Type - II.

How the guideline value of Sakthivel Nagar Main Road has changed

The guideline value for Sakthivel Nagar Main Road has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 230%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur village, 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 Main Road.

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

Stamp duty and registration fee for property in Sakthivel Nagar Main Road

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, and the registration fee at 2% would be Rs 66,020. Therefore, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that 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 Main Road?

The Sakthivel Nagar Main Road is covered by 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 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 sold, the guideline value is assessed to ensure that the transaction is recorded accurately. The fees charged are based on this value or the sale price, whichever is higher, ensuring that both the buyer and seller comply with the legal requirements of property transactions.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar Main Road?

The current guideline value of Sakthivel Nagar Main Road 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 several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% from the 2007 revision.

What is the land classification for Sakthivel Nagar Main Road?

The land classification for Sakthivel Nagar Main Road 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 the registration of properties in the area.

How is stamp duty calculated for properties in Peravallur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty would be 7% of that amount.