Guideline Value for SAIBABA NAGAR

Saibaba Nagar guideline value

The current guideline value of Saibaba Nagar, located in Saidapet village under the Chennai South Joint I SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Saibaba Nagar has changed

Over the years, the guideline value of Saibaba Nagar has seen significant changes. The earliest recorded value in 2002 was Rs 633 per sq.ft. This increased to Rs 729 per sq.ft in 2003, marking a rise of 15%. The value then saw a substantial increase to Rs 1,100 per sq.ft in 2007, which was a 51% increase. Following that, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 173% growth. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The guideline value then increased again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

In summary, from 2002 to 2024, the overall increase in the guideline value is 421%. The register has no figures for the years not listed in the revisions.

Guideline values in Saidapet

Saidapet village has a range of guideline values across its 52 streets under the Chennai South Joint I SRO. The 2024 figures range from Rs 2,750 to Rs 8,250 per sq.ft, with the median being Rs 3,300 per sq.ft, which is the same as the guideline value for Saibaba Nagar.

• Rangabashyam Chetty Street: Rs 2,750 per sq.ft (2024)
• Sarathy Nagar: Rs 4,400 per sq.ft (2024)
• Sembada Street: Rs 2,750 per sq.ft (2024)
• Punniyakotti Street: Rs 2,750 per sq.ft (2024)
• Perumal Koil West Mada Veethi Extn: Rs 4,400 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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 cost for these fees to Rs 2,97,000. 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 Saibaba Nagar?

Saibaba Nagar 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 details.

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

The guideline value plays a crucial role during property transactions in Saidapet. It is the minimum value set by the government for property registration, ensuring that the property is not sold for less than this value. When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of property transactions. The fees are calculated based on this value, and understanding it can help in budgeting for the total expenses involved in buying or selling property.

Frequently asked questions

What is the current guideline value of Saibaba Nagar?

The current guideline value of Saibaba Nagar 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 significantly from Rs 633 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 421% over the years.

What are the other streets in Saidapet and their guideline values?

Other streets in Saidapet include Rangabashyam Chetty Street at Rs 2,750 per sq.ft, Sarathy Nagar at Rs 4,400 per sq.ft, and several others, with values ranging from Rs 2,750 to Rs 8,250 per sq.ft.

What is the stamp duty rate for properties in Saibaba Nagar?

The stamp duty rate for properties in Saibaba Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saibaba Nagar?

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