Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Ozhalur village under the Chengleput Joint I SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Sai Nagar has changed

Looking at the revisions, the guideline value for Sri Sai Nagar was Rs 250 per sq.ft in both the 2023 and 2024 revisions. Prior to this, in the 2017 revision, the guideline value was Rs 167 per sq.ft. This indicates a 50% increase from 2017 to 2023. In the 2012 revision, the value was Rs 250 per sq.ft, showing a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ozhalur

In Ozhalur, there are 13 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 672 per sq.ft, with a median of Rs 300 per sq.ft. The guideline value for Sri Sai Nagar is below this median.

• Sri Mangal Avenue Phase - II: Rs 350 per sq.ft (2024)
• Sri Mangal Avenue: Rs 300 per sq.ft (2024)
• Sathyamoorthy Nagar: Rs 250 per sq.ft (2024)
• Sakthi Vinayaga Nagar: Rs 250 per sq.ft (2024)
• Sakthi Subbarayan Nagar: Rs 250 per sq.ft (2024)
• Sakthi Nagar: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be 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 or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Nagar?

The Chengleput Joint I Sub Registrar Office covers Sri Sai Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ozhalur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar 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 various changes, with a significant increase of 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023. However, it has remained at Rs 250 per sq.ft from 2012 to 2024.

What are the guideline values of other streets in Ozhalur?

Other streets in Ozhalur have varying guideline values, with rates ranging from Rs 250 to Rs 672 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft.

What fees are associated with buying property in Sri Sai Nagar?

When buying property in Sri Sai Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Sai Nagar located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Sri Sai Nagar.