Guideline Value for SHIRIDI SAI NAGAR/AVENUE

Shiridi Sai Nagar/Avenue guideline value

The current guideline value for Shiridi Sai Nagar/Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Mixed Special Type - I.

How the guideline value of Shiridi Sai Nagar/Avenue has changed

The guideline value for Shiridi Sai Nagar/Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in the 2023 revision. This change represents a 10% rise in value.

Looking back further, the guideline value was Rs 2,000 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 50%. Overall, from 2017 to 2024, the guideline value has increased by 65%. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Shiridi Sai Nagar/Avenue is above this median.

• Sivan Koil Street: Rs 440 per sq.ft (2024)
• Sri Andal Nagar Part-II: Rs 1,100 per sq.ft (2024)
• Sangothiamman Koil Street: Rs 440 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar Third Main Road: Rs 440 per sq.ft (2024)
• Rajiv gandhi 3rd Main Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Shiridi Sai Nagar/Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shiridi Sai Nagar/Avenue?

The Shiridi Sai Nagar/Avenue falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value is a crucial factor when registering property transactions in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration process is transparent and standardized.

When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shiridi Sai Nagar/Avenue?

The current guideline value of Shiridi Sai Nagar/Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 65%.

What is the land classification for Shiridi Sai Nagar/Avenue?

Shiridi Sai Nagar/Avenue is classified as Mixed Special Type - I under the land classification system.

Where can I find the registration office for this area?

The registration office for Shiridi Sai Nagar/Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.