Guideline Value for Sakthivel Nagar

Sakthivel Nagar guideline value

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

How the guideline value of Sakthivel Nagar has changed

The guideline value of Sakthivel Nagar has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, this value decreased to Rs 402 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 600 per sq.ft in 2023, and subsequently to Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The 2017 to 2023 revision saw a substantial rise of 49%, indicating a significant change in the valuation of the property over these years.

Guideline values in Sundaracholavaram

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

• Sakthivel Nagar Extension: 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

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 at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Nagar?

The Sakthivel Nagar area is covered by 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 plays a crucial role in property transactions in Sundaracholavaram. It is used as a benchmark for determining the stamp duty and registration fees during the buying or selling process. Buyers must be aware that the guideline value may differ from the actual sale price, but the higher of the two will be considered for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps in maintaining transparency and compliance with local regulations, which is essential for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

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

What is the land classification of Sakthivel Nagar?

Sakthivel Nagar falls under the Residential Class I Type - III land classification.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Sakthivel Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is set at 7% of the guideline value, along with a registration fee of 2%.