Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Karanodai village, under the jurisdiction of the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Sai Nagar has changed

Looking at the revisions, the guideline value for Sri Sai Nagar has seen several changes over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,100 per sq.ft in the 2023 revision, and then rose to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. It is worth noting that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Karanodai

Karanodai village has 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, which is the same as the guideline value for Sri Sai Nagar.

• Sri Krishna Nagar Annex-III: Rs 440 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 440 per sq.ft (2024)
• Sothuperumpedu Road: Rs 1,650 per sq.ft (2024)
• Sivan Koil Street: Rs 1,650 per sq.ft (2024)
• Thirukkulamedu: Rs 440 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,210 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty, calculated at 7%, would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200. Together, the total cost for stamp duty and registration fees would be Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office that covers Sri Sai Nagar is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers must be aware of the guideline value to understand the financial implications of their 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 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the registration office for Sri Sai Nagar?

The registration office for Sri Sai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Sri Sai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at the rate of 7%.

What is the land classification of Sri Sai Nagar?

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