Guideline Value for SRI SAI NAGAR

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

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 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 500 per sq.ft, and the most recent 2024 revision increased it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, the guideline value from 2012 to 2024 has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

In Pothur village, there are 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which matches the current guideline value of Sri Sai Nagar.

• Sri Sai Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Sai Sakthi Nagar Annex: Rs 440 per sq.ft (2024)
• Sri Sankara Nagar: Rs 440 per sq.ft (2024)
• St. Thomas Nagar: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar: Rs 440 per sq.ft (2024)
• Sri Jai Balaji Nagar: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost to Rs 49,500. 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 further calculations.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Sri Sai Nagar?

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

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

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

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.