Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Vadamelpakkam village under the Gooduvancheri SRO, is Rs 350 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Sai Nagar has changed

Over the years, the guideline value of Sri Sai Nagar has seen various revisions. The most recent revision in 2024 maintains the guideline value at Rs 350 per sq.ft, which is the same as the 2023 revision. The 2017 revision was Rs 234 per sq.ft, indicating a significant increase of 50% from 2017 to 2023. In contrast, the 2012 revision also had a guideline value of Rs 350 per sq.ft, showing a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 350 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value are only reflected from the available revisions starting from 2012.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 1,000 per sq.ft, with the median value being Rs 350 per sq.ft. Sri Sai Nagar's 2024 figure aligns with this median.

• Star City: Rs 350 per sq.ft (2024)
• Senthamil Nagar: Rs 350 per sq.ft (2024)
• Vasantham Nagar: Rs 350 per sq.ft (2024)
• Paradise City Extension: Rs 1,000 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)
• Mavsorva Garden: Rs 350 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty is calculated at 7%, amounting to Rs 24,500, and the registration fee is 2%, which is Rs 7,000. Therefore, the total cost for stamp duty and registration fee together is Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office covering Sri Sai Nagar is the Gooduvancheri Sub Registrar Office, 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 Vadamelpakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Vadamelpakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value is used to ensure that the property is registered at a fair price, reflecting the current market conditions.

When a property is sold, the seller must provide the guideline value to the registration office, which will then calculate the applicable fees based on this value. This ensures transparency and compliance with local regulations, making it essential for both buyers and sellers to understand the guideline value in their transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, with a previous increase from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023.

What is the land classification for Sri Sai Nagar?

Sri Sai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Sai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,50,000 would incur a stamp duty of Rs 24,500.