Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Mambakkam village under the Madurandakam SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sri Sai Nagar has changed

The guideline value for Sri Sai Nagar has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. However, this figure decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 700 per sq.ft in the 2023 revision, and then increased by 10% to Rs 770 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was notable at 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value of Sri Sai Nagar is above this median.

• Sri Sakthi Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Sri Vishnu Avenue: Rs 770 per sq.ft (2024)
• Sun City: Rs 770 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Vasantham Nagar: Rs 330 per sq.ft (2024)
• Rose Garden: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making a total of Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is an important factor in property transactions in Mambakkam. It serves as a baseline for determining the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers should be aware that the guideline value is used to calculate these costs, ensuring transparency in property dealings.

When a property is sold, the guideline value helps in assessing the official value of the property for registration purposes. This ensures that the government receives the appropriate taxes based on the established guideline values, which are periodically updated to reflect market conditions.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Sri Sai Nagar?

Sri Sai Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Sri Sai Nagar?

The Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone, handles property registrations for Sri Sai Nagar.