Guideline Value for SRI SAI BABA NAGAR

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar, located in Kinaar village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Sai Baba Nagar has changed

The guideline value for Sri Sai Baba Nagar has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 100 per sq.ft. The 2024 revision has maintained this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Kinaar

In Kinaar village, there are five streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with a median value of Rs 150 per sq.ft. Sri Sai Baba Nagar's current guideline value is below this median.

• Sri Sastha Nagar: Rs 100 per sq.ft (2024)
• Sri Eswaran Avenue: Rs 150 per sq.ft (2024)
• Sai Baba Nagar: Rs 200 per sq.ft (2024)
• Adhistam Nagar & Adhistam Nagar Extension: Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total fees Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property.

Which Sub Registrar Office covers Sri Sai Baba Nagar?

The Sub Registrar Office that covers Sri Sai Baba Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kinaar. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, 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 government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sri Sai Baba Nagar is Rs 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 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024, with a significant increase of 49% from 2017 to 2023.

What are the other streets in Kinaar with their guideline values?

Other streets in Kinaar include Sri Sastha Nagar at Rs 100 per sq.ft, Sri Eswaran Avenue at Rs 150 per sq.ft, Sai Baba Nagar at Rs 200 per sq.ft, and Adhistam Nagar & Adhistam Nagar Extension at Rs 200 per sq.ft, all effective from 2024.

How is the stamp duty calculated in Sri Sai Baba Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty at 7% would be Rs 7,000.

Where is the Sub Registrar Office for Sri Sai Baba Nagar located?

The Madurandakam Sub Registrar Office covers Sri Sai Baba Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.