Guideline Value for Sakthivel Nagar

Sakthivel Nagar guideline value

The current guideline value of Sakthivel Nagar, located in Thiruverkadu village under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sakthivel Nagar has changed

The guideline value for Sakthivel Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 392 per sq.ft. This increased dramatically to Rs 1,400 per sq.ft in the 2012 revision, marking a rise of 257%. However, by the 2017 revision, the value dropped to Rs 938 per sq.ft, which was a decrease of 33%. The value then rose again to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,540 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 293%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which is equal to the current value of Sakthivel Nagar.

• Sakthi Nagar: Rs 1,540 per sq.ft (2024)
• Rathanam Nagar Annex: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street 1st Cross Street: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street Main Street: Rs 1,760 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,540 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 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total fees to Rs 1,38,600. It is important to note that stamp duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthivel Nagar?

The Sub Registrar Office that covers Sakthivel Nagar 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 Thiruverkadu

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruverkadu. 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 registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

The current guideline value of Sakthivel Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 392 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, representing an overall increase of 293%.

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

Other streets in Thiruverkadu with the same guideline value of Rs 1,540 per sq.ft include Sakthi Nagar, Rathanam Nagar Annex, S.B.M.School Street 1st Cross Street, S.B.M.School Street 2nd Cross Street, and Selva Ganapathy Nagar.

What is the stamp duty rate for property transactions in Sakthivel Nagar?

The stamp duty rate for property transactions in Sakthivel Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sakthivel Nagar?

The Sub Registrar Office for Sakthivel Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it through the provided link.