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

Sai Srivari Nagar Phase -III (Chen) guideline value

The current guideline value for Sai Srivari Nagar Phase -III (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 property is Mixed Special Type - I.

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

Over the years, the guideline value for Sai Srivari Nagar Phase -III (Chen) has seen several revisions. The earliest available figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a 33% drop. However, the value significantly increased to Rs 1,500 per sq.ft in 2023, and then rose again to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 1,500 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

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. The median value for these streets is Rs 880 per sq.ft, positioning Sai Srivari Nagar Phase -III (Chen) above this median.

• Sai Srivari Nagar Phase -II (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srivari Nagar Phase -IV (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srivari Nagar Part VIII (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 -III (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 to Rs 1,48,500. 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 further calculations.

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

The Sub Registrar Office covering Sai Srivari Nagar Phase -III (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 information.

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

The guideline value is a crucial factor during property registration in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Sai Srivari Nagar Phase -III (Chen)?

The current guideline value for Sai Srivari Nagar Phase -III (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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with significant revisions in between, including a drop to Rs 1,005 per sq.ft in 2017 and a rise to Rs 1,500 per sq.ft in 2023.

What is the registration fee for property in this area?

The registration fee is calculated based on the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000 at a rate of 2%.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Sai Srivari Nagar Phase -III (Chen) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.

What is the land classification for Sai Srivari Nagar Phase -III (Chen)?

The land classification for Sai Srivari Nagar Phase -III (Chen) is Mixed Special Type - I, indicating its diverse usage potential.