Guideline Value for SriSakthi Nagar

SriSakthi Nagar guideline value

The current guideline value of SriSakthi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kunnam village under the Sunguvarchattram SRO, classified as Residential Special Type - I.

How the guideline value of SriSakthi Nagar has changed

The guideline value for SriSakthi Nagar has undergone several revisions over the years. The most recent revision in 2024 maintains the value at Rs 350 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 234 per sq.ft, reflecting a 50% increase from 2017 to 2023. The 2012 revision also set the value at Rs 350 per sq.ft, which means there was a decrease of 33% from 2012 to 2017.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 350 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kunnam

In Kunnam village, there are 18 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 181 to Rs 660 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, positioning SriSakthi Nagar above this median.

• Srivari Nagar: Rs 350 per sq.ft (2024)
• Star Lake Avenue: Rs 350 per sq.ft (2024)
• Solai Street: Rs 181 per sq.ft (2024)
• Thirupathi Nagar: Rs 660 per sq.ft (2024)
• Road Street: Rs 250 per sq.ft (2024)
• Prabu metha nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in SriSakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, calculated at 7%, would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that the 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 SriSakthi Nagar?

The Sub Registrar Office that covers SriSakthi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kunnam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives due revenue based on the property’s assessed value.

Frequently asked questions

What is the current guideline value of SriSakthi Nagar?

The current guideline value of SriSakthi Nagar is Rs 350 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 350 per sq.ft from 2012 to 2024, with a notable increase of 50% from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023.

What is the land classification for SriSakthi Nagar?

SriSakthi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for SriSakthi Nagar located?

The Sub Registrar Office for SriSakthi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in SriSakthi Nagar?

Stamp duty in SriSakthi Nagar is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 3,50,000 would incur a stamp duty of Rs 24,500 at a rate of 7%.