Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - II.

How the guideline value of Sri Sai Nagar has changed

Over the years, the guideline value of Sri Sai Nagar has seen significant changes. The 2017 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,986 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has further raised the value to Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 60%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. The guideline value for Sri Sai Nagar is above this median.

• Sri Sai Nagar Annexe: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-II: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-III: Rs 3,200 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,950 per sq.ft (2024)
• Tellus Avenue: Rs 3,200 per sq.ft (2024)
• Tellus Avenue Phase-II: Rs 3,200 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 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office that covers Sri Sai Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 60%. The value rose from Rs 2,986 per sq.ft in 2023 to Rs 3,200 per sq.ft in 2024, which is a 7% increase.

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

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Sri Sai Nagar?

Sri Sai Nagar is classified as Mixed Type - II, indicating a blend of residential and commercial use in the area.