Guideline Value for SAI SRI VARI NAGAR

Sai Sri Vari Nagar guideline value

The current guideline value of Sai Sri Vari Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Thirukkachur - 1 village under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Sai Sri Vari Nagar has changed

The guideline value for Sai Sri Vari Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. In the most recent revision for 2024, the value further increased to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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 increased by 10%.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 3,300 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Sai Sri Vari Nagar's 2024 figure above this median.

• Sai Nagar: Rs 2,200 per sq.ft (2024)
• Sanjeevi Nagar: Rs 550 per sq.ft (2024)
• Sardhar Petel Nagar: Rs 1,645 per sq.ft (2024)
• Sasthri Street: Rs 550 per sq.ft (2024)
• South Mada Veedhi: Rs 550 per sq.ft (2024)
• Pilliyar Kovil Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Sri Vari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Sri Vari Nagar?

The Sub Registrar Office that covers Sai Sri Vari Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role during property transactions in Thirukkachur - 1. When you buy or sell a property, the guideline value is used to determine the stamp duty and registration fees that are applicable. This ensures that the fees are based on an official valuation rather than the sale price.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly impact the overall cost of the transaction. The registration process will utilize this value to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sai Sri Vari Nagar?

The current guideline value of Sai Sri Vari Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sai Sri Vari Nagar?

Sai Sri Vari Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.