Guideline Value for SRI SAI BABA NAGAR

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This locality is situated in Nelli village under the Salavakkam SRO, classified as Residential Special Type - I.

How the guideline value of Sri Sai Baba Nagar has changed

The guideline value for Sri Sai Baba Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, and the latest revision in 2024 has raised it further to Rs 103 per sq.ft, marking a 3% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 3%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft, with the median value being Rs 103 per sq.ft. Sri Sai Baba Nagar's 2024 figure matches this median.

• Sri Lakshmi Nagar: Rs 103 per sq.ft (2024)
• Sri Bhuvaneshwari Amman Nagar: Rs 103 per sq.ft (2024)
• Thirumalai Nagar: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-7: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-6: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase -5: Rs 103 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 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total fees to Rs 9,270. 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 details.

Which Sub Registrar Office covers Sri Sai Baba Nagar?

The Sub Registrar Office that covers Sri Sai Baba Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nelli. It serves as a basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is considered alongside the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the locality.

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 to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Sri Sai Baba Nagar?

Sri Sai Baba Nagar is classified as Residential Special Type - I within Nelli village.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 103 per sq.ft would incur a total guideline value of Rs 1,03,000, leading to specific fees based on this amount.