Guideline Value for SRI SAI GARDEN

Sri Sai Garden guideline value

The current guideline value of Sri Sai Garden, located in Vijayanallur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Sai Garden has changed

The guideline value for Sri Sai Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This value decreased to Rs 268 per sq.ft in the 2017 revision, marking a decline of 33%. However, the subsequent revision in 2023 increased the value to Rs 400 per sq.ft, followed by a further increase to Rs 440 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 540 per sq.ft. The guideline value for Sri Sai Garden is below this median.

• Tata Nagar: Rs 550 per sq.ft (2024)
• Tata Nagar Extn.: Rs 550 per sq.ft (2024)
• S.K. Nagar: Rs 440 per sq.ft (2024)
• Siva Sakthi Nagar Annexe: Rs 550 per sq.ft (2024)
• Sivasakthi Nagar: Rs 550 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 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 rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Garden?

The Sub Registrar Office that covers Sri Sai Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vijayanallur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should consider this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sai Garden?

The current guideline value of Sri Sai Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Sri Sai Garden?

Sri Sai Garden is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Sri Sai Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 4,40,000, the stamp duty would be Rs 30,800.