Guideline Value for Shakthi Nagar

Shakthi Nagar guideline value

The current guideline value of Shakthi Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Shakthi Nagar has changed

Over the years, the guideline value of Shakthi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has further increased it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Shakthi Nagar is above this median.

• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 660 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Shakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making a total of Rs 1,18,800. 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 Shakthi Nagar?

The Sub Registrar Office that covers Shakthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in property transactions in Padappai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value or the sale price is considered, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Shakthi Nagar?

The current guideline value of Shakthi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, with significant changes in 2017 and 2023 revisions as well.

What is the land classification of Shakthi Nagar?

Shakthi Nagar falls under Residential Class I Type - I land classification.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Shakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.