Guideline Value for Sai Baba Nagar

Sai Baba Nagar guideline value

The current guideline value of Sai Baba Nagar, located in Serapanancheri village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sai Baba Nagar has changed

The guideline value for Sai Baba Nagar has seen several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and further rose to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, placing Sai Baba Nagar's 2024 figure above that median.

• Sakthi Vinayagan Nagar: Rs 720 per sq.ft (2024)
• Sastha Nagar: Rs 720 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Shanthi Durga Nagar: Rs 720 per sq.ft (2024)
• Shanthi Durga Nagar Extn: Rs 720 per sq.ft (2024)
• Shridi Saibaba Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. 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 Sai Baba Nagar?

The Sai Baba Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the fair value of the property based on current market conditions. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sai Baba Nagar?

The current guideline value of Sai Baba Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sai Baba Nagar?

Sai Baba Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the other streets in Serapanancheri?

Other streets in Serapanancheri include Sakthi Vinayagan Nagar, Sastha Nagar, Shanmuga Nagar, Shanthi Durga Nagar, and Shanthi Durga Nagar Extn, with various guideline values for 2024.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.