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Guideline Value

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Guideline Value for SRI SAI NAGAR 2ND MAIN ROAD

₹5500/sq.ft.

The guideline value for Sri Sai Nagar 2nd Main Road in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Sai Nagar 2nd Main Road

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Sri Sai Nagar 2nd Main Road guideline value

The current guideline value of Sri Sai Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, and it is classified as Residential Special Type - III.

How the guideline value of Sri Sai Nagar 2nd Main Road has changed

Over the years, the guideline value of Sri Sai Nagar 2nd Main Road has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 5,000 per sq.ft in the 2023 revision, and then increased to the current Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 to 2023 revision, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, making the current guideline value of Sri Sai Nagar 2nd Main Road above that median.

Stamp duty and registration fee for property in Sri Sai Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Nagar 2nd Main Road?

The Sub Registrar Office that covers Sri Sai Nagar 2nd Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam, as it determines the minimum value at which the property can be registered. Buyers must pay stamp duty and registration fees based on this guideline value, ensuring that the transaction is legally recognized.

When registering a property, the guideline value helps in calculating the applicable taxes and fees, which are essential for the completion of the sale. It is advisable for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar 2nd Main Road?

The current guideline value of Sri Sai Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, marking a 10% increase. It previously decreased from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017 before rising again.

What is the land classification of Sri Sai Nagar 2nd Main Road?

Sri Sai Nagar 2nd Main Road is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Sri Sai Nagar 2nd Main Road?

The Neelankarai Sub Registrar Office handles registrations for Sri Sai Nagar 2nd Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.