Guideline Value for SHRIDI SAIBABA NAGAR

Shridi Saibaba Nagar guideline value

The current guideline value of Shridi Saibaba Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Serapanancheri village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Shridi Saibaba Nagar has changed

The guideline value for Shridi Saibaba Nagar has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 603 per sq.ft. This increased to Rs 900 per sq.ft in 2023, reflecting a change of 49%. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft, with a median value of Rs 720 per sq.ft. The guideline value of Shridi Saibaba Nagar is above this median.

• Shanthi Durga Nagar Extn: Rs 720 per sq.ft (2024)
• Shanthi Durga Nagar: Rs 720 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Sri Ashwinin Nagar: Rs 720 per sq.ft (2024)
• Sri Bala Garden: Rs 1,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Shridi Saibaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 Shridi Saibaba Nagar?

The Sub Registrar Office that covers Shridi Saibaba Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This ensures transparency and helps in avoiding undervaluation during the sale process.

Frequently asked questions

What is the current guideline value of Shridi Saibaba Nagar?

The current guideline value of Shridi Saibaba Nagar is Rs 990 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 603 per sq.ft to Rs 990 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for Shridi Saibaba Nagar?

Shridi Saibaba Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Shridi Saibaba Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.