Guideline Value for SAI CHITRA NAGAR

Sai Chitra Nagar guideline value

The current guideline value of Sai Chitra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kannivakkam village under the Thiruporur SRO, classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sai Chitra Nagar has changed

Over the years, the guideline value for Sai Chitra Nagar has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which remained unchanged in the 2023 and 2024 revisions. The 2017 revision marked a significant increase to Rs 737 per sq.ft, representing a 49% rise from the previous figure. However, from 2012 to 2017, there was a decrease of 33% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 1,100 per sq.ft.

Guideline values in Kannivakkam

In Kannivakkam, there are 32 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,389 per sq.ft, with a median value of Rs 1,050 per sq.ft. Sai Chitra Nagar's 2024 figure of Rs 1,100 per sq.ft is above this median.

• Sai Enclave: Rs 1,493 per sq.ft (2024)
• Sakthi Nagar: Rs 500 per sq.ft (2024)
• Sanjai Nagar Phase - I: Rs 1,600 per sq.ft (2024)
• Saraswathi Avenue: Rs 900 per sq.ft (2024)
• Sarathy Nagar Phase-I, Phase-II: Rs 900 per sq.ft (2024)
• Selli Amman Avenue: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Chitra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Sai Chitra Nagar?

The Sai Chitra Nagar area falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Kannivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sai Chitra Nagar?

The current guideline value of Sai Chitra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,100 per sq.ft from 2012 to 2024, with a significant increase from Rs 737 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What are the guideline values of other streets in Kannivakkam?

Other streets in Kannivakkam have varying guideline values, ranging from Rs 450 to Rs 2,389 per sq.ft. Sai Chitra Nagar's value of Rs 1,100 per sq.ft is above the median value of Rs 1,050 per sq.ft for the area.

What are the stamp duty and registration fees for property in Sai Chitra Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. This is based on the current guideline value of Rs 1,100 per sq.ft.

Which office handles property registrations in Sai Chitra Nagar?

The Thiruporur Sub Registrar Office handles property registrations for Sai Chitra Nagar. It is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.