Guideline Value for SRI SAI CITY

Sri Sai City guideline value

The current guideline value of Sri Sai City, located in Thammanur village under the Walajabad SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Sai City has changed

The guideline value for Sri Sai City has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 200 per sq.ft.

Looking at the most recent revisions, the 2024 revision maintains the guideline value at Rs 200 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thammanur

In Thammanur, there are 16 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 150 to Rs 448 per sq.ft, and the median value is Rs 300 per sq.ft. The guideline value for Sri Sai City is below this median.

• Sri Sathya Nagar: Rs 300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 150 per sq.ft (2024)
• Solar Nagar: Rs 300 per sq.ft (2024)
• Vettri Nagar Pase-1: Rs 150 per sq.ft (2024)
• Rishi Nagar: Rs 150 per sq.ft (2024)
• Walajabad Co -Operative Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai City

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is calculated at 7%, resulting in Rs 14,000, while the registration fee is charged at 2%, which amounts to Rs 4,000. Together, the total fees would be Rs 18,000. It is important to note that 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 City?

The Sub Registrar Office that covers Sri Sai City is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thammanur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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 duties and fees. This ensures that the registration process reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Sri Sai City?

The current guideline value of Sri Sai City is Rs 200 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has remained at Rs 200 per sq.ft until the 2023 revision. The value saw a decrease to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023 and remaining the same for 2024.

What are the other streets in Thammanur and their guideline values?

Other streets in Thammanur have varying guideline values ranging from Rs 150 to Rs 300 per sq.ft. The median value for these streets is Rs 300 per sq.ft, while Sri Sai City's value is below this median.

What fees are associated with property transactions in Sri Sai City?

When buying property in Sri Sai City, fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot has a total fee of Rs 18,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Sri Sai City?

The Walajabad Sub Registrar Office covers Sri Sai City, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information about your SRO online.