Guideline Value for SRI SAIBABA NAGAR

Sri Saibaba Nagar guideline value

The current guideline value of Sri Saibaba Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Patravakkam village and falls under the Chengleput Joint II SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sri Saibaba Nagar has changed

Over the years, the guideline value of Sri Saibaba Nagar has seen several revisions. The 2007 revision set the value at Rs 350 per sq.ft, which increased to Rs 500 per sq.ft in 2012. Following this, the value remained unchanged at Rs 500 per sq.ft in 2023 and is set to continue at the same rate in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33% to Rs 335 per sq.ft. However, from 2017 to 2023, it saw a significant increase of 49%, bringing it back to Rs 500 per sq.ft. Overall, from 2007 to 2024, there has been a 43% increase in the guideline value.

Guideline values in Patravakkam

In Patravakkam, there are five streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Sri Saibaba Nagar's 2024 figure below that median.

• Sr Baba Nagar: Rs 400 per sq.ft (2024)
• Rd Enclave: Rs 800 per sq.ft (2024)
• Shree Mahindra Giri: Rs 800 per sq.ft (2024)
• Sree Maruti Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saibaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making a total of Rs 45,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sri Saibaba Nagar?

The Sub Registrar Office that covers Sri Saibaba Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Patravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a real estate transaction, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Saibaba Nagar?

The current guideline value of Sri Saibaba Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent figures being Rs 500 per sq.ft in both 2023 and 2024. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What other streets have guideline values in Patravakkam?

Other streets in Patravakkam include Sr Baba Nagar at Rs 400 per sq.ft, and Rd Enclave, Shree Mahindra Giri, and Sree Maruti Nagar, all at Rs 800 per sq.ft for 2024.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Sri Saibaba Nagar.