Guideline Value for sakthi garden

Sakthi Garden guideline value

The current guideline value of Sakthi Garden, located in Manapakkam village, is Rs 150 per sq.ft. This value is effective from 1 July 2024 and falls under the Chengleput Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sakthi Garden has changed

The guideline value for Sakthi Garden has seen several revisions over the years. In 2012, the guideline value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, which lowered the value to Rs 100 per sq.ft. However, in 2023, the value increased to Rs 150 per sq.ft, and this figure has remained the same in the 2024 revision, reflecting a 0% change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 50%. The overall change from the 2012 revision to the 2024 revision is 0%, indicating that the value has not fluctuated over this twelve-year span. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Sakthi Garden is below this median.

• Sai Jothi Avenue: Rs 254 per sq.ft (2024)
• Om Saravanabava Nagar Phase-II: Rs 200 per sq.ft (2024)
• Om Saravanabava Nagar Phase-I: Rs 500 per sq.ft (2024)
• New Krishna Nagar: Rs 500 per sq.ft (2024)
• Syamala Real City Phase 1,2,3: Rs 150 per sq.ft (2024)
• Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is charged at 7%, which totals Rs 10,500, and the registration fee is charged at 2%, amounting to Rs 3,000. Together, the total fees would be Rs 13,500. 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 Sakthi Garden?

The Sakthi Garden area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Manapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the buyer is required to pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Garden?

The current guideline value of Sakthi Garden is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Sakthi Garden?

Sakthi Garden falls under the land classification of Residential Class II Type - I.

What are the stamp duty rates for property in Sakthi Garden?

The stamp duty for property transactions in Sakthi Garden is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sakthi Garden?

The Chengleput Joint I Sub Registrar Office handles registrations for Sakthi Garden, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.