Guideline Value for Sri Sakthi nagar

Sri Sakthi nagar guideline value

The current guideline value of Sri Sakthi nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Sri Sakthi nagar has changed

Over the years, the guideline value of Sri Sakthi nagar has seen significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 140%. Following this, the 2023 revision raised the value to Rs 2,000 per sq.ft, reflecting a 67% increase from the previous revision. The most recent 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that the guideline value of Sri Sakthi nagar is below this median.

• Sri Sai Nagar Extension Vishwak Garden: Rs 3,800 per sq.ft (2024)
• Sri Sai Nagar Ext: Rs 2,200 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South: Rs 3,300 per sq.ft (2024)
• Sriram Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sriram Nagar 1st Main Road: 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sakthi nagar?

The Sub Registrar Office that covers Sri Sakthi nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Tambaram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it directly influences the costs involved in the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the total expenses incurred during the transaction.

Frequently asked questions

What is the current guideline value of Sri Sakthi nagar?

The current guideline value of Sri Sakthi nagar is Rs 2,200 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increments in between, including a 10% increase from 2023 to 2024.

Are there any years without a guideline value for Sri Sakthi nagar?

Yes, there are no figures available for the revisions in 2002, 2003, and 2017 for Sri Sakthi nagar.

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 the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Sakthi nagar located?

The Sub Registrar Office for Sri Sakthi nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.