Guideline Value for SAI SRIVARI NAGAR PHASE -II (CHEN)

Sai Srivari Nagar Phase -II (Chen) guideline value

The current guideline value of Sai Srivari Nagar Phase -II (Chen) is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village and falls under the Chengleput Joint II SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Sai Srivari Nagar Phase -II (Chen) has changed

The guideline value for Sai Srivari Nagar Phase -II has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value significantly increased to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up after the decline. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Sai Srivari Nagar Phase -II is above this median.

• Sai Srivari Nagar Part VIII (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srivari Nagar Phase -III (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srivari Nagar Phase -IV (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srinivasa Nagar Part-II: Rs 660 per sq.ft (2024)
• Rose Garden (Chen): Rs 770 per sq.ft (2024)
• Sathysai Nagar (Chen): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Srivari Nagar Phase -II (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sai Srivari Nagar Phase -II (Chen)?

The Sub Registrar Office that covers Sai Srivari Nagar Phase -II (Chen) 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 details.

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

When buying or selling property in Sengundram - 1, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, ensuring that the transaction is recorded at a fair price.

At the time of registration, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sai Srivari Nagar Phase -II (Chen)?

The current guideline value of Sai Srivari Nagar Phase -II (Chen) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Sai Srivari Nagar Phase -II (Chen)?

The land classification for Sai Srivari Nagar Phase -II (Chen) is Mixed Special Type - I, indicating its varied potential uses.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Sai Srivari Nagar Phase -II (Chen)?

The Chengleput Joint II Sub Registrar Office handles registrations for Sai Srivari Nagar Phase -II (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.