Guideline Value for SRI SATHIYA SAI NAGAR

Sri Sathiya Sai Nagar guideline value

The current guideline value of Sri Sathiya Sai Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Thenmalpakkam village, under the Chengleput Joint II SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sri Sathiya Sai Nagar has changed

The guideline value for Sri Sathiya Sai Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 368 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 550 per sq.ft, which means there was a decrease of 33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained unchanged at Rs 550 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Thenmalpakkam

Within Thenmalpakkam village, there are 8 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,500 per sq.ft. The median value among these streets is Rs 550 per sq.ft, which aligns with the guideline value of Sri Sathiya Sai Nagar.

• Sri Ram Nagar: Rs 500 per sq.ft (2024)
• Sree Sainagar: Rs 350 per sq.ft (2024)
• Sendhur Murugan Avenue: Rs 300 per sq.ft (2024)
• Vishwa Garden Phase-I: Rs 600 per sq.ft (2024)
• Grace Garden: Rs 550 per sq.ft (2024)
• A.V.R.Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathiya 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, while the registration fee at 2% would be Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathiya Sai Nagar?

The Sub Registrar Office that covers Sri Sathiya Sai 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Thenmalpakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they meet the financial obligations required for registration.

When registering a property, the guideline value serves as a reference point for the transaction value. This means that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sathiya Sai Nagar?

The current guideline value of Sri Sathiya 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 seen several changes, with the most recent being Rs 550 per sq.ft in both 2023 and 2024. It was Rs 368 per sq.ft in 2017 and Rs 550 per sq.ft in 2012.

What is the land classification for Sri Sathiya Sai Nagar?

Sri Sathiya Sai Nagar is classified as Mixed Special Type - I, which reflects its usage and zoning regulations.

What are the stamp duty and registration fees for a property in Sri Sathiya 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.

Which office handles property registrations for Sri Sathiya Sai Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Sri Sathiya Sai Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.