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

Sai Srivari Nagar Phase -IV (Chen) guideline value

The current guideline value of Sai Srivari Nagar Phase -IV (Chen) is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Sengundram - 1 village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - I.

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

The guideline value for Sai Srivari Nagar Phase -IV (Chen) has undergone several revisions over the years. The earliest recorded revision 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, which marked a 33% drop. However, the value rebounded significantly in the subsequent years, reaching Rs 1,500 per sq.ft in 2023, and then increasing to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to a higher level. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Sengundram - 1

Sengundram - 1 contains a total of 126 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value for the village is Rs 880 per sq.ft, placing the guideline value of Sai Srivari Nagar Phase -IV (Chen) above this median.

• Sai Srivari Nagar Phase -III (Chen): Rs 1,650 per sq.ft (2024)
• Sai Srivari Nagar Phase -II (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 -IV (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees 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.

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

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

The Sub Registrar Office that covers Sai Srivari Nagar Phase -IV (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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

The guideline value plays a crucial role in the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sai Srivari Nagar Phase -IV (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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

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

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, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sengundram - 1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be calculated accordingly.