Guideline Value for SRI SAI NAGAR PHASE - I

Sri Sai Nagar Phase - I guideline value

The current guideline value for Sri Sai Nagar Phase - I, located in Peruveli village, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Sri Sai Nagar Phase - I has changed

Since the 2002, 2003, and 2007 revisions, there are no figures available for Sri Sai Nagar Phase - I. The 2012 revision set the guideline value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 250 per sq.ft. The 2017 revision had a guideline value of Rs 167 per sq.ft, marking a decrease of 33% from the 2012 figure. However, from 2017 to 2023, the value increased by 50% to reach Rs 250 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 250 per sq.ft, showing no change from the previous year. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 250 per sq.ft.

Guideline values in Peruveli

In Peruveli village, there are 12 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Sai Nagar Phase - I's guideline value of Rs 250 per sq.ft is above this median.

• Sri Jayalakshmi Avenue: Rs 126 per sq.ft (2024)
• Priyam Garden: Rs 200 per sq.ft (2024)
• Ngo Nagar Extension: Rs 200 per sq.ft (2024)
• Kamadenu Nagar: Rs 251 per sq.ft (2024)
• J.J.Nagar Extention - I: Rs 100 per sq.ft (2024)
• Aishwarya Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Nagar Phase - I

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Nagar Phase - I?

The Sub Registrar Office covering Sri Sai Nagar Phase - I 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 Peruveli

The guideline value plays a crucial role in the registration process for property transactions in Peruveli. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, which is important for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar Phase - I?

The current guideline value of Sri Sai Nagar Phase - I is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the 2012 revision at Rs 250 per sq.ft, dropping to Rs 167 per sq.ft in 2017, and then returning to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Sri Sai Nagar Phase - I?

Sri Sai Nagar Phase - I is classified as Commercial Class I Type - I under the Madurandakam SRO.

What are the other streets in Peruveli with their guideline values?

Other streets in Peruveli include Sri Jayalakshmi Avenue at Rs 126 per sq.ft, Priyam Garden and Ngo Nagar Extension at Rs 200 per sq.ft, Kamadenu Nagar at Rs 251 per sq.ft, J.J.Nagar Extention - I at Rs 100 per sq.ft, and Aishwarya Nagar at Rs 200 per sq.ft.

How is the stamp duty calculated for properties in Sri Sai Nagar Phase - I?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.