Guideline Value for SRI SATHIYA SAI NAGAR

Sri Sathiya Sai Nagar guideline value

The current guideline value of Sri Sathiya Sai Nagar is Rs 120 per sq.ft, effective from 1 July 2024. This area falls under Eruvakkam village, governed by the Madurandakam SRO, and is classified as Mixed Type - I land.

How the guideline value of Sri Sathiya Sai Nagar has changed

Over the years, the guideline value of Sri Sathiya Sai Nagar has seen several revisions. The register shows no figures for the years 2002, 2003, and 2007. In 2012, the guideline value was Rs 120 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 80 per sq.ft. The 2023 revision brought it back to Rs 120 per sq.ft, maintaining this rate into the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 50%. Notably, there has been no change in the guideline value from 2012 to 2024, as it remained at Rs 120 per sq.ft throughout this period.

Guideline values in Eruvakkam

Currently, there are no specific village figures available for Eruvakkam. The guideline value for Sri Sathiya Sai Nagar is Rs 120 per sq.ft. There are no other streets in Eruvakkam listed under the Madurandakam SRO.

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total to Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or 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?

The Sub Registrar Office that covers Sri Sathiya Sai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Eruvakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair rate as established by the government. This helps in maintaining transparency in property dealings within the region.

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 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent change being from Rs 120 per sq.ft in 2023 to Rs 120 per sq.ft in 2024, indicating no change. The value was Rs 80 per sq.ft in 2017 and Rs 120 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 10,800, which includes Rs 8,400 for stamp duty and Rs 2,400 for the registration fee.

Which office handles property registrations in Sri Sathiya Sai Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Sri Sathiya Sai Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Sri Sathiya Sai Nagar?

Sri Sathiya Sai Nagar is classified as Mixed Type - I land, which influences the guideline value and property transactions in the area.