Guideline Value for Sri Sakthi Vinayagar Nagar

Sri Sakthi Vinayagar Nagar guideline value

The current guideline value of Sri Sakthi Vinayagar Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Mambakkam village, under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Sakthi Vinayagar Nagar has changed

The guideline value for Sri Sakthi Vinayagar Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 400%. However, it then decreased to Rs 201 per sq.ft in 2017, a decline of 33%. Following that, the value rose to Rs 300 per sq.ft in 2023, and further increased to Rs 330 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 is an increase of 450%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 330 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is the same as the current guideline value for Sri Sakthi Vinayagar Nagar.

• Sri Sai Nagar: Rs 770 per sq.ft (2024)
• Sri Vishnu Avenue: Rs 770 per sq.ft (2024)
• Sun City: Rs 770 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Vasantham Nagar: Rs 330 per sq.ft (2024)
• Rose Garden: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sakthi Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total charges to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Sakthi Vinayagar Nagar?

The Sub Registrar Office that covers Sri Sakthi Vinayagar Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, both the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency and adherence to legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Sri Sakthi Vinayagar Nagar?

The current guideline value of Sri Sakthi Vinayagar Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Sri Sakthi Vinayagar Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000, leading to a stamp duty of Rs 23,100 and a registration fee of Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers this area?

The Madurandakam Sub Registrar Office covers Sri Sakthi Vinayagar Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Sri Sakthi Vinayagar Nagar?

Sri Sakthi Vinayagar Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.