Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar in Naalur village, under the Ponneri SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Sai Nagar has changed

The guideline value for Sri Sai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which decreased to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The 2023 revision maintained this value at Rs 400 per sq.ft, and the same figure was carried into the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Naalur

In Naalur, there are 23 streets under the Ponneri SRO with a guideline value for 2024 ranging from Rs 400 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, which is the same as the guideline value for Sri Sai Nagar.

• Sri Raman Nagar: Rs 400 per sq.ft (2024)
• Sri Vaidheeswarar Nagar: Rs 400 per sq.ft (2024)
• Srinivasapuram Phase Iiii: Rs 400 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sandhya Nagar: Rs 500 per sq.ft (2024)
• Vadivudai Amman Nagar: Rs 500 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 rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office that covers Sri Sai Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Naalur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is an increase of 33%.

What is the land classification of Sri Sai Nagar?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 4,00,000, the total fees would be Rs 36,000.

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

The Sub Registrar Office for Sri Sai Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration-related services for the area.