Guideline Value for SRI SAI BABA NAGAR

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar, located in Veeranakunnam village under the Madurandakam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Sai Baba Nagar has changed

Over the years, the guideline value of Sri Sai Baba Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the value to Rs 103 per sq.ft, marking a 3% increase from the previous year. The 2017 revision had a significant increase of 49% from the 2012 figure, raising it to Rs 67 per sq.ft, but the value dropped back to Rs 100 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007 for this street.

Comparing the overall changes, from 2012 to 2024, the guideline value has increased by 3%. The fluctuations in the guideline value reflect the adjustments made during each revision period, with the most recent being a steady increase from the previous years.

Guideline values in Veeranakunnam

In Veeranakunnam, there are 9 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft, with the median being Rs 103 per sq.ft. Sri Sai Baba Nagar's 2024 figure is equal to this median value.

• Srinivasa Nagar Phase-I: Rs 103 per sq.ft (2024)
• Srinivasa Nagar: Rs 103 per sq.ft (2024)
• Teachers Avenue: Rs 102 per sq.ft (2024)
• Sai Sakthi Garden: Rs 103 per sq.ft (2024)
• Royal Nagar: Rs 100 per sq.ft (2024)
• Real Value Developer In Royal Nagar: Rs 100 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 rate of Rs 103 per sq.ft, the guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, totaling Rs 9,270. 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 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 Veeranakunnam

The guideline value is a crucial factor in property transactions in Veeranakunnam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

Both buyers and sellers should be aware that the guideline value may differ from the market price of the property. However, the registration process will rely on the guideline value to assess the applicable fees, which can affect the overall cost of the transaction.

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 103 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 finally to Rs 103 per sq.ft in 2024.

What are the stamp duty rates for properties in Sri Sai Baba Nagar?

The stamp duty rate for properties in Sri Sai Baba Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

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

How do I calculate the total cost of buying property in Sri Sai Baba Nagar?

To calculate the total cost of buying property, you need to consider the guideline value, stamp duty, and registration fees. For example, for a 1,000 sq.ft plot at Rs 103 per sq.ft, the total cost would include the guideline value, stamp duty of 7%, and registration fee of 2%.