Guideline Value for SAI CITY

Sai City guideline value

The current guideline value of Sai City, located in Vanjivakkam village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sai City has changed

The guideline value for Sai City has seen several revisions over the years. In the 2017 revision, the guideline value was set at Rs 67 per sq.ft. This figure increased to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, showing a total increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there has been no change in the guideline value, remaining at Rs 100 per sq.ft. Overall, the guideline value has increased by 49% from the 2017 revision to the current 2024 figure.

Guideline values in Vanjivakkam

In Vanjivakkam, three streets under the Ponneri SRO carry a guideline value of Rs 100 per sq.ft for 2024. The median guideline value for these streets is also Rs 100 per sq.ft, placing Sai City at this median value.

• Lohitha Lakshmi Nagar Phase-II: Rs 100 per sq.ft (2024)
• Anees Garden: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sai City

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total cost for these fees to Rs 9,000. 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 Sai City?

The Sub Registrar Office covering Sai City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanjivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that transactions are recorded at a fair value.

When a buyer purchases property, the guideline value is assessed to calculate the applicable fees. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sai City?

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

How has the guideline value of Sai City changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What are the other streets in Vanjivakkam with the same guideline value?

Other streets in Vanjivakkam under the Ponneri SRO with the same guideline value of Rs 100 per sq.ft include Lohitha Lakshmi Nagar Phase-II and Anees Garden.

What fees are associated with buying property in Sai City?

When buying property in Sai City, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 9,000.

Where is the Sub Registrar Office for Sai City located?

The Ponneri Sub Registrar Office, which covers Sai City, is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.