Guideline Value for SRI SATHYASAI NAGAR

Sri Sathyasai Nagar guideline value

The current guideline value of Sri Sathyasai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Eesoor village and falls under the Madurandakam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Sathyasai Nagar has changed

Over the years, the guideline value for Sri Sathyasai Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, the subsequent revisions in 2023 and 2024 saw the value return to Rs 250 per sq.ft, with no change between these two years, resulting in a 50% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the current 2024 revision indicates no net change in the guideline value, maintaining the rate at Rs 250 per sq.ft.

Guideline values in Eesoor

In Eesoor village, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 120 to Rs 250 per sq.ft. The median guideline value for these streets is Rs 175 per sq.ft, positioning Sri Sathyasai Nagar above this median value.

• Sakthi Avenue: Rs 175 per sq.ft (2024)
• Om Sakthi Nagar: Rs 120 per sq.ft (2024)
• Nemichand Nagar: Rs 120 per sq.ft (2024)
• Green Wood Avenue: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathyasai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, resulting in Rs 17,500, while the registration fee is 2%, totaling Rs 5,000. Therefore, the combined cost for stamp duty and registration fee is Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathyasai Nagar?

The Sub Registrar Office covering Sri Sathyasai 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 Eesoor

The guideline value plays a crucial role in property transactions in Eesoor, as it is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate their financial obligations.

When a property is sold, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Sathyasai Nagar?

The current guideline value of Sri Sathyasai Nagar 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 several changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft. There was a decrease to Rs 167 per sq.ft in 2017, but it returned to Rs 250 per sq.ft in 2023 and 2024.

What are the other streets in Eesoor and their guideline values?

Other streets in Eesoor include Sakthi Avenue at Rs 175 per sq.ft, Om Sakthi Nagar and Nemichand Nagar at Rs 120 per sq.ft, and Green Wood Avenue at Rs 175 per sq.ft, all for the year 2024.

How is stamp duty calculated in Sri Sathyasai Nagar?

Stamp duty in Sri Sathyasai Nagar is charged at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for Sri Sathyasai Nagar located?

The Sub Registrar Office for Sri Sathyasai Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.