Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kaavaathur village under the Madurandakam SRO, and the land classification is Mixed Type - I.

How the guideline value of Sri Sai Nagar has changed

Over the years, the guideline value of Sri Sai Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2023 revision. However, from the 2017 revision, which was Rs 167 per sq.ft, there was a significant increase of 50% to reach Rs 250 per sq.ft in 2023. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, there has been no overall change, maintaining the value at Rs 250 per sq.ft. The most recent revision in 2024 shows no increase from the previous year, as the value remains at Rs 250 per sq.ft.

Guideline values in Kaavaathur

In Kaavaathur, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 100 per sq.ft, making the guideline value of Sri Sai Nagar above that median.

• Sri Mahalakshmi Nagar: Rs 100 per sq.ft (2024)
• Sai Sadhasiva Garden & Extension: Rs 120 per sq.ft (2024)
• B.L. Avenue: Rs 100 per sq.ft (2024)
• B.B. Avenue II: Rs 100 per sq.ft (2024)
• B.B. Avenue: Rs 100 per sq.ft (2024)
• Mullai Nagar Avenue- I: Rs 100 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under 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 Kaavaathur

The guideline value is an important factor when registering property transactions in Kaavaathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the transaction is registered based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

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 remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017 before returning to Rs 250 per sq.ft in 2023 and remaining unchanged in 2024.

What is the land classification of Sri Sai Nagar?

Sri Sai Nagar is classified as Mixed Type - I, which indicates the type of land use permitted in the area.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

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

The Madurandakam Sub Registrar Office, which covers Sri Sai Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.