Guideline Value for sakthi subbarayan nagar

Sakthi Subbarayan Nagar guideline value

The current guideline value of Sakthi Subbarayan Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Ozhalur village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sakthi Subbarayan Nagar has changed

Over the years, the guideline value for Sakthi Subbarayan Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a 33% drop. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The 2024 revision has maintained this value, showing a 0% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value are only reflected from the revisions in 2012, 2017, 2023, and the current 2024 revision.

Guideline values in Ozhalur

In Ozhalur, there are 13 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 672 per sq.ft, with a median value of Rs 300 per sq.ft. Sakthi Subbarayan Nagar's 2024 figure is below this median.

• Sakthi Vinayaga Nagar: Rs 250 per sq.ft (2024)
• Sakthi Nagar: Rs 650 per sq.ft (2024)
• Sakthi Ganesh Nagar: Rs 250 per sq.ft (2024)
• Sathyamoorthy Nagar: Rs 250 per sq.ft (2024)
• Sri Mangal Avenue: Rs 300 per sq.ft (2024)
• Sri Mangal Avenue Phase - II: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Subbarayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Sakthi Subbarayan Nagar?

Sakthi Subbarayan Nagar falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor in property transactions in Ozhalur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a reference point for both parties involved in the transaction, facilitating a smoother registration experience.

Frequently asked questions

What is the current guideline value of Sakthi Subbarayan Nagar?

The current guideline value of Sakthi Subbarayan Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 250 per sq.ft in 2024, unchanged from 2023. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012.

What is the land classification for Sakthi Subbarayan Nagar?

Sakthi Subbarayan Nagar is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Sakthi Subbarayan Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations for Sakthi Subbarayan Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.