Guideline Value for SREE SAI SAKTHI NAGAR

Sree Sai Sakthi Nagar guideline value

The current guideline value of Sree Sai Sakthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sree Sai Sakthi Nagar has changed

The guideline value for Sree Sai Sakthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but this was followed by a substantial increase of 49% from 2017 to 2023. Overall, the guideline value has increased by 10% from 2012 to 2024, reflecting the current rate of Rs 1,100 per sq.ft.

Guideline values in Ninna Karai

Ninna Karai village features a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Sree Sai Sakthi Nagar.

• Sree Sathyasai Nagar Extention: Rs 660 per sq.ft (2024)
• Sree Meenakchi Avenue: Rs 1,100 per sq.ft (2024)
• Sree Siva Sakthi Nagar: Rs 660 per sq.ft (2024)
• Sree Arunachala Nagar: Rs 1,650 per sq.ft (2024)
• South Ganapathy Nagar (Pa): Rs 660 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Sai Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sree Sai Sakthi Nagar?

The Sub Registrar Office that covers Sree Sai Sakthi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sree Sai Sakthi Nagar?

The current guideline value of Sree Sai Sakthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sree Sai Sakthi Nagar?

Sree Sai Sakthi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Sree Sai Sakthi Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Sree Sai Sakthi Nagar?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details about your SRO online.