Guideline Value for Sai Krishna Nagar

Sai Krishna Nagar guideline value

The current guideline value of Sai Krishna Nagar, located in Padiyanallur village, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Sai Krishna Nagar has changed

The guideline value of Sai Krishna Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 85 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was followed by a rise to Rs 600 per sq.ft in 2012, but then it decreased to Rs 402 per sq.ft in 2017. The value then increased sharply to Rs 600 per sq.ft in 2023, before reaching the current rate of Rs 660 per sq.ft in 2024. It is important to note that the register has no figure for this street in 2002.

From 2003 to 2024, the overall increase in the guideline value is 676%. The changes between the revisions include a 253% increase from 2003 to 2007, followed by a 100% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Sai Krishna Nagar's 2024 figure is below this median.

• Sanjai Gandhi Street: Rs 660 per sq.ft (2024)
• Santhi Nagar: Rs 660 per sq.ft (2024)
• Sastri Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 660 per sq.ft (2024)
• Raja Sethupathi Street: Rs 660 per sq.ft (2024)
• Shasthri Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Krishna Nagar

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. 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 detailed calculations.

Which Sub Registrar Office covers Sai Krishna Nagar?

Sai Krishna Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These charges are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sai Krishna Nagar?

The current guideline value of Sai Krishna Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, with various increments and decrements across the years.

What is the registration office for Sai Krishna Nagar?

The Redhills Sub Registrar Office covers Sai Krishna Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sai Krishna Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.

What are the other streets in Padiyanallur with similar guideline values?

Other streets in Padiyanallur with similar guideline values include Sanjai Gandhi Street, Santhi Nagar, and Sathiyavani Muthu Street, all at Rs 660 per sq.ft in 2024.