Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value for Sri Sai Nagar, located in Mannivakkam village, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Sri Sai Nagar has changed

Since the 2017 revision, the guideline value for Sri Sai Nagar has seen significant increases. In 2017, the value was Rs 603 per sq.ft, which rose to Rs 900 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further increased the guideline value to Rs 990 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value for Sri Sai Nagar is below this median.

• Sri Sai Nagar Extension-I: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension -II: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension-III: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension IV: Rs 4,110 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sathya Narayana Nagar: Rs 990 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 guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that 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 Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Sai Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mannivakkam. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of a property. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as set by the Registration Department. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Sri Sai Nagar?

The current guideline value for Sri Sai Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 603 per sq.ft to Rs 990 per sq.ft in 2024, showing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in Sri Sai Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Sri Sai Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Sri Sai Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the land classification for Sri Sai Nagar?

Sri Sai Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes within the locality.