Guideline Value for SRI SATHYA SAI NAGAR

Sri Sathya Sai Nagar guideline value

The current guideline value of Sri Sathya Sai Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Sathya Sai Nagar has changed

The guideline value for Sri Sathya Sai Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this figure dropped to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, before reaching the current value of Rs 1,960 per sq.ft in 2024, reflecting an increase of 9% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 553%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

In Nanmangalam, there are 139 streets under the Pallavaram SRO with a guideline value for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Sri Sathya Sai Nagar's 2024 figure below the median.

• Sri Sumathinath Residency: Rs 2,750 per sq.ft (2024)
• Sri Vigneshwara Avenue: Rs 2,750 per sq.ft (2024)
• S.R, Nagar: Rs 1,960 per sq.ft (2024)
• Sriram Nagar: Rs 2,750 per sq.ft (2024)
• Sri Perumal Nagar: Rs 2,750 per sq.ft (2024)
• Srinivasan Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, resulting in a total of Rs 1,76,400. 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 Sathya Sai Nagar?

Sri Sathya Sai Nagar is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanmangalam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair price of the property. Buyers and sellers must consider this value to avoid disputes during the registration process.

Frequently asked questions

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

The current guideline value of Sri Sathya Sai Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,960 per sq.ft in 2024, reflecting an overall increase of 553% over this period.

What are the other streets in Nanmangalam with their guideline values?

Other streets in Nanmangalam include Sri Sumathinath Residency and Sri Vigneshwara Avenue, both at Rs 2,750 per sq.ft, along with S.R, Nagar, Sriram Nagar, Sri Perumal Nagar, and Srinivasan Street, all at varying rates.

Where can I find the Sub Registrar Office for Sri Sathya Sai Nagar?

The Sub Registrar Office covering Sri Sathya Sai Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.