Guideline Value for SRI SAI GARDEN

Sri Sai Garden guideline value

The current guideline value of Sri Sai Garden, located in Puzhuthivakkam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Sai Garden has changed

Looking at the historical revisions, the guideline value for Sri Sai Garden was Rs 200 per sq.ft in both the 2023 and 2024 revisions. There was no change between these two years, reflecting a stable valuation. Prior to this, the 2017 revision recorded a guideline value of Rs 134 per sq.ft, indicating a significant increase of 49% from 2017 to 2023.

In the earlier revision from 2012, the guideline value was set at Rs 200 per sq.ft. This marked a decrease of 33% from the 2017 figure. Overall, when comparing the 2012 revision to the current 2024 guideline value, there has been no change, maintaining the value at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which aligns with the guideline value for Sri Sai Garden.

• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)
• Thirumagal Nagar: Rs 200 per sq.ft (2024)
• Thirumalai Nagar: Rs 200 per sq.ft (2024)
• Roja Nagar: Rs 100 per sq.ft (2024)
• Vip City: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Garden

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, calculated at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000. Together, the total cost for these fees would be Rs 18,000. 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 Garden?

The Sub Registrar Office that covers Sri Sai Garden 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 Puzhuthivakkam

The guideline value plays a crucial role in property transactions in Puzhuthivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

During the registration process, both the buyer and seller must be aware of the guideline value to avoid any discrepancies. It is essential for both parties to understand that the guideline value is set by the government and is subject to revisions, which can affect future transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Garden?

The current guideline value of Sri Sai Garden is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2012 to 2017, the guideline value decreased from Rs 200 to Rs 134 per sq.ft. It then increased by 49% to Rs 200 per sq.ft in 2023 and has remained the same through 2024.

What are the stamp duty and registration fees for a property in Sri Sai Garden?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles property registrations in Sri Sai Garden?

The Madurandakam Sub Registrar Office is responsible for property registrations in Sri Sai Garden, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu.

What is the land classification for Sri Sai Garden?

Sri Sai Garden is classified as Residential Special Type - I, indicating its designated use for residential purposes within the area.