Guideline Value for Sakthivel Nagar

Sakthivel Nagar guideline value

The current guideline value of Sakthivel Nagar, located in Attanthangal village under the Redhills SRO, is Rs 880 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sakthivel Nagar has changed

The guideline value for Sakthivel Nagar has seen several revisions over the years. In 2003, the value was Rs 35 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. Following this, it rose to Rs 800 per sq.ft in 2012, but then dropped to Rs 536 per sq.ft in 2017. The value saw a substantial increase to Rs 800 per sq.ft in 2023 before reaching the current rate of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2414%. The register does not have a figure for the year 2002 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft. The median value is Rs 880 per sq.ft, placing Sakthivel Nagar at this median value.

• Sakthi Nagar: Rs 880 per sq.ft (2024)
• Sathya Nagar: Rs 880 per sq.ft (2024)
• Seetha Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Ram Nagar: Rs 880 per sq.ft (2024)
• S.P.M. Nagar: Rs 550 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Sakthivel Nagar?

The Sub Registrar Office that covers Sakthivel Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Attanthangal, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of property transactions. Understanding this value can help in making informed decisions during the buying and selling process.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

The current guideline value of Sakthivel Nagar is Rs 880 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 2414% over this period.

What are the registration fees for property transactions in Sakthivel Nagar?

The registration fee is calculated at 2% of the guideline value, while the stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sakthivel Nagar?

Sakthivel Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there other streets with the same guideline value in Attanthangal?

Yes, several other streets in Attanthangal, such as Sakthi Nagar, Sathya Nagar, Ram Nagar, and Sri Ganapathy Nagar, also have a guideline value of Rs 880 per sq.ft for the year 2024.