Guideline Value for Sakthivel Salai

Sakthivel Salai guideline value

The current guideline value of Sakthivel Salai is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Special Type - II.

How the guideline value of Sakthivel Salai has changed

The guideline value for Sakthivel Salai has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 325 per sq.ft. It increased to Rs 354 per sq.ft in 2003, marking a 9% rise. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, which was a 98% increase. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 329%. However, the value rebounded to Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous revision. The 2023 revision set the value at Rs 3,000 per sq.ft, before the current value of Rs 3,301 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 916%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, which is the same as the current value for Sakthivel Salai.

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

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 charged at 7% would amount to Rs 2,31,070, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthivel Salai?

The Sub Registrar Office that covers Sakthivel Salai is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set an appropriate selling price based on the current market conditions.

Frequently asked questions

What is the current guideline value of Sakthivel Salai?

The current guideline value of Sakthivel Salai is Rs 3,301 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, which is an overall increase of 916%.

What are the stamp duty and registration fees for property in Sakthivel Salai?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,090.

Which Sub Registrar Office is responsible for Sakthivel Salai?

The Sembiam Sub Registrar Office is responsible for Sakthivel Salai, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Sakthivel Salai?

Sakthivel Salai is classified as Residential Special Type - II, which is relevant for determining the guideline value and property usage in the area.