Guideline Value for SRI SAI BABA NAGAR EXTN

Sri Sai Baba Nagar Extn guideline value

The current guideline value of Sri Sai Baba Nagar Extn is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Sai Baba Nagar Extn has changed

The guideline value for Sri Sai Baba Nagar Extn has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the guideline value at Rs 750 per sq.ft, which increased to Rs 830 per sq.ft in the 2024 revision, marking an 11% increase.

Prior to the 2023 revision, there were no recorded figures for the street. The 2024 guideline value of Rs 830 per sq.ft aligns with the median value of Rs 830 per sq.ft for the 146 streets in Padappai under the Padappai SRO, which range from Rs 440 to Rs 4,000 per sq.ft.

Guideline values in Padappai

In Padappai, the guideline values vary significantly across different streets. The 2024 guideline value for Sri Sai Baba Nagar Extn is equal to the median value for the area. Here are the guideline values for other streets in Padappai:

• Sri Sai Baba Nagar: Rs 830 per sq.ft (2024)
• Sri Saibaba Gardens: Rs 830 per sq.ft (2024)
• Sri Sai Avenue: Rs 830 per sq.ft (2024)
• Sri Ranganatha Nagar: Rs 1,320 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 830 per sq.ft (2024)
• Srishti Garden: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Baba Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Sai Baba Nagar Extn?

The Sri Sai Baba Nagar Extn is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, you can visit this link: find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Baba Nagar Extn?

The current guideline value of Sri Sai Baba Nagar Extn is Rs 830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

In the recent 2024 revision, the guideline value increased from Rs 750 per sq.ft in 2023 to Rs 830 per sq.ft, representing an 11% increase.

What is the land classification for Sri Sai Baba Nagar Extn?

Sri Sai Baba Nagar Extn is classified as Residential Class III Type - I, which indicates its suitability for residential development.

Where can I find the Padappai Sub Registrar Office?

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

How is stamp duty calculated in Padappai?

Stamp duty in Padappai is calculated based on the higher of the guideline value or the actual sale price of the property. This ensures that the correct fees are paid during the registration process.