Guideline Value

Corporate

Guideline Value for Sri Sakthi Nagar

₹440/sq.ft.

The guideline value for Sri Sakthi Nagar in Nandambakkam village (Padappai SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nandambakkam

Village

Padappai

SRO

Residential Class V Type - III
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹50 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Sakthi Nagar

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Sri Sakthi Nagar guideline value

The current guideline value of Sri Sakthi Nagar, located in Nandambakkam village under the Padappai Sub Registrar Office (SRO), is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - III land classification.

How the guideline value of Sri Sakthi Nagar has changed

The guideline value for Sri Sakthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a 700% rise. However, it then decreased to Rs 268 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 400 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Sri Sakthi Nagar's current guideline value is below this median.

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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, calculated at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Therefore, the total cost for stamp duty and registration would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sakthi Nagar?

Sri Sakthi Nagar is covered by 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 Nandambakkam

The guideline value plays a crucial role in property transactions in Nandambakkam. It serves as a benchmark for calculating the stamp duty and registration fees when buying or selling property. This ensures that the government receives the appropriate revenue based on the assessed value of the property.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value. If the sale price is lower, the stamp duty will still be calculated based on the guideline value, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sakthi Nagar?

The current guideline value of Sri Sakthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

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

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

Which office handles property registrations in Sri Sakthi Nagar?

The Padappai Sub Registrar Office handles property registrations for Sri Sakthi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Nandambakkam?

The median guideline value for streets in Nandambakkam is Rs 880 per sq.ft, with Sri Sakthi Nagar's value being below this median.