Guideline Value for SAI GARDEN

Sai Garden guideline value

The current guideline value of Sai Garden, located in Medavakkam village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - II.

How the guideline value of Sai Garden has changed

Over the years, the guideline value of Sai Garden has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,300 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. Following that, there was a significant increase of 49% from 2017 to 2023. The value then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median of Rs 2,200 per sq.ft. Sai Garden's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Sagadevan Street: Rs 2,200 per sq.ft (2024)
• Sairam Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Garden

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Garden?

Sai Garden is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value acts as a benchmark. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sai Garden?

The current guideline value of Sai Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sai Garden?

Sai Garden is classified as Commercial Class I Type - II under the Chennai South Joint I SRO.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Sai Garden located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.