Guideline Value for Sri Sakthi Nagar

Sri Sakthi Nagar guideline value

The current guideline value of Sri Sakthi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Kilambakkam village and is classified as Residential Special Type - I. The relevant Sub Registrar Office for this locality is the Gooduvancheri SRO.

How the guideline value of Sri Sakthi Nagar has changed

Over the years, the guideline value of Sri Sakthi Nagar has seen several revisions. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2012 revision. However, by 2017, the value dropped to Rs 804 per sq.ft. The latest revision in 2023 has brought the value back up to Rs 1,200 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. Conversely, there was a decrease of 33% from 2012 to 2017. The value rose by 20% from 2007 to 2012. Overall, from 2007 to 2023, the guideline value has increased by 20%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Kilambakkam

Currently, there are no specific village figures available for Kilambakkam. However, Sri Sakthi Nagar is a notable area within this locality. Other streets in Kilambakkam include:

Stamp duty and registration fee for property in Sri Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000. Together, the total fees would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sakthi Nagar?

The Sub Registrar Office that covers Sri Sakthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kilambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar?

The current guideline value of Sri Sakthi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What is the stamp duty rate for properties in Sri Sakthi Nagar?

The stamp duty rate for properties in Sri Sakthi Nagar is 7% of the guideline value or sale price, whichever is higher.

What are the registration fees for properties in Sri Sakthi Nagar?

The registration fee for properties in Sri Sakthi Nagar is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Sri Sakthi Nagar?

The Gooduvancheri Sub Registrar Office handles property registration for Sri Sakthi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.