Guideline Value for Sri Sakthi Nagar

Sri Sakthi Nagar guideline value

The current guideline value of Sri Sakthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Sakthi Nagar has changed

The guideline value for Sri Sakthi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 203 per sq.ft, which rose to Rs 600 per sq.ft in 2007, marking an increase of 196%. By 2012, the value remained unchanged at Rs 2,500 per sq.ft, and this figure continued through to the 2023 revision. In 2023, the guideline value was again Rs 2,500 per sq.ft, but in 2024, it increased to Rs 2,750 per sq.ft, reflecting a growth of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1,255%. It is important to note that there are no registered figures for the years 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 3,300 per sq.ft, indicating that Sri Sakthi Nagar's current guideline value is below this median.

• Sri Saradha Nagar: Rs 3,300 per sq.ft (2024)
• Sri Sastha Nagar: Rs 2,750 per sq.ft (2024)
• Srirangam Nagar: Rs 3,300 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)
• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Srinivasapuram: Rs 3,300 per sq.ft (2024)

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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sakthi Nagar?

The Sub Registrar Office covering Sri Sakthi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with registration. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar?

The current guideline value of Sri Sakthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 203 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, representing a total increase of 1,255% over this period.

What are the stamp duty rates for property in Sri Sakthi Nagar?

The stamp duty for property in Sri Sakthi Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Which Sub Registrar Office covers Sri Sakthi Nagar?

The Pallavaram Sub Registrar Office covers Sri Sakthi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, which indicates that Sri Sakthi Nagar's current guideline value is below this median.