Guideline Value for SRI SATHYASAI NAGAR EXTN-I

Sri Sathyasai Nagar Extn-I guideline value

The current guideline value of Sri Sathyasai Nagar Extn-I is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Erivai village under the Walajabad SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Sathyasai Nagar Extn-I has changed

Over the years, the guideline value of Sri Sathyasai Nagar Extn-I has undergone several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft. The value then increased to Rs 250 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 50% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has not changed, maintaining the rate of Rs 250 per sq.ft since the 2023 revision.

Guideline values in Erivai

In addition to Sri Sathyasai Nagar Extn-I, there are other streets in Erivai under the Walajabad SRO. The guideline values for these streets are also set at Rs 250 per sq.ft in the 2024 revision.

• Ishwariyam Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathyasai Nagar Extn-I

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Sathyasai Nagar Extn-I?

The Sub Registrar Office that covers Sri Sathyasai Nagar Extn-I is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during property transactions in Erivai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the guideline value can affect the stamp duty and registration fees that need to be paid. It is crucial for both parties involved in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sathyasai Nagar Extn-I?

The current guideline value of Sri Sathyasai Nagar Extn-I is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft, the same as in 2023. The value decreased from Rs 250 in 2012 to Rs 167 in 2017 before increasing back to Rs 250 in 2023.

What is the stamp duty for properties in Sri Sathyasai Nagar Extn-I?

The stamp duty for properties in Sri Sathyasai Nagar Extn-I is 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

Where can I find the Sub Registrar Office for Sri Sathyasai Nagar Extn-I?

The Walajabad Sub Registrar Office covers Sri Sathyasai Nagar Extn-I, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a reference for the minimum price at which properties can be registered. It also influences the calculation of stamp duty and registration fees during property transactions.