Guideline Value for Sai Nagar 2nd Street

Sai Nagar 2nd Street guideline value

The current guideline value of Sai Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sai Nagar 2nd Street has changed

The guideline value for Sai Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 2,700 per sq.ft, reflecting a rise of 61% from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Sai Nagar 2nd Street's 2024 guideline value is below this median.

• Sai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sai Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Saint Anthoni Nagar: Rs 2,700 per sq.ft (2024)
• Samundariya Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 1st Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Nagar 2nd Street?

The Sub Registrar Office that covers Sai Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration office will use the guideline value to calculate applicable taxes and fees.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sai Nagar 2nd Street?

The current guideline value of Sai Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286% over the years.

What are the stamp duty and registration fees for properties in Sai Nagar 2nd Street?

For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Sai Nagar 2nd Street?

The Sembiam Sub Registrar Office covers Sai Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Sai Nagar 2nd Street?

Sai Nagar 2nd Street falls under the Residential Class II Type - I land classification, indicating its use primarily for residential purposes.