Guideline Value for SRI SATHIYA SAI NAGAR PHASE- 4

Sri Sathiya Sai Nagar Phase- 4 guideline value

The current guideline value of Sri Sathiya Sai Nagar Phase- 4 is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Karunilam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Sathiya Sai Nagar Phase- 4 has changed

The guideline value for Sri Sathiya Sai Nagar Phase- 4 has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 600 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 402 per sq.ft, indicating a 49% increase from 2017 to 2023. The 2012 revision also set the value at Rs 600 per sq.ft, which reflects a decrease of 33% from the 2012 to 2017 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 600 per sq.ft. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft, with a median value of Rs 501 per sq.ft. The guideline value for Sri Sathiya Sai Nagar Phase- 4 is above this median.

• Sri Ram Nagar Extn -II: Rs 500 per sq.ft (2024)
• Sri Ram Nagar Extn -I: Rs 500 per sq.ft (2024)
• Sri Ram Nagar: Rs 500 per sq.ft (2024)
• Sri Kalaivani Avenue Extn: Rs 500 per sq.ft (2024)
• Sri Kalaivani Avenue: Rs 500 per sq.ft (2024)
• S.M.S. Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathiya Sai Nagar Phase- 4

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value is Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sathiya Sai Nagar Phase- 4?

The Sub Registrar Office that covers Sri Sathiya Sai Nagar Phase- 4 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 Karunilam

The guideline value plays a crucial role in the registration process of property transactions in Karunilam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Sathiya Sai Nagar Phase- 4?

The current guideline value for Sri Sathiya Sai Nagar Phase- 4 is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. The value was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012.

What is the land classification for Sri Sathiya Sai Nagar Phase- 4?

Sri Sathiya Sai Nagar Phase- 4 is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Sathiya Sai Nagar Phase- 4?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.