Guideline Value for Sakthivel Nagar

Sakthivel Nagar guideline value

The current guideline value of Sakthivel Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sakthivel Nagar has changed

In the 2012 revision, the guideline value for Sakthivel Nagar was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the guideline value saw a significant increase in the 2024 revision, rising to Rs 1,300 per sq.ft, which is an increase of 62% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sakthivel Nagar is below this median.

• Sakthivel Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Sakthi Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sakthi Nagar, Periyasekkadu (Ward-01): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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?

The Sakthivel Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that both buyers and sellers have a clear understanding of the property's worth.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the necessary revenue from property sales.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

The current guideline value of Sakthivel Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%.

What is the land classification of Sakthivel Nagar?

Sakthivel Nagar is classified as Residential Class III Type - I according to the local land classification regulations.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your local SRO through the provided link.