Guideline Value for SAI BABA NAGAR

Sai Baba Nagar guideline value

The current guideline value of Sai Baba Nagar, located in Kinaar village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sai Baba Nagar has changed

Over the years, the guideline value for Sai Baba Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from 2012. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, indicating no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained stable, showing a net change of 0% during this period.

Guideline values in Kinaar

In Kinaar village, five streets under the Madurandakam SRO have a guideline value for 2024, ranging from Rs 100 to Rs 200 per sq.ft. Sai Baba Nagar's current guideline value is above the median of Rs 150 per sq.ft for the area.

• Sri Eswaran Avenue: Rs 150 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 100 per sq.ft (2024)
• Sri Sastha Nagar: Rs 100 per sq.ft (2024)
• Adhistam Nagar & Adhistam Nagar Extension: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Baba Nagar?

The Sai Baba Nagar area falls under the jurisdiction of 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 information.

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

The guideline value is a critical factor during property transactions in Kinaar, as it determines the amount of stamp duty and registration fees payable. When buying or selling property, the guideline value is used to assess the official value of the property, ensuring that the correct fees are calculated based on this value.

It is essential for buyers and sellers to be aware of the current guideline value for their specific area to avoid any discrepancies during the registration process. This value serves as a benchmark for the transaction and helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sai Baba Nagar?

The current guideline value of Sai Baba Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What is the land classification for Sai Baba Nagar?

The land classification for Sai Baba Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sai Baba Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at the rate of 7%.