Guideline Value for Sai Nagar Extension

Sai Nagar Extension guideline value

The current guideline value of Sai Nagar Extension, located in Chembakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sai Nagar Extension has changed

The guideline value of Sai Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 250 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 900%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The subsequent revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 2,500 per sq.ft, which was further raised to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 980%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Sai Nagar Extension's 2024 value of Rs 2,700 per sq.ft is above the median.

• Sai Nagar: Rs 2,700 per sq.ft (2024)
• Sadhasivam Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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, bringing the total charges to Rs 2,43,000. 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 precise calculations.

Which Sub Registrar Office covers Sai Nagar Extension?

The Sai Nagar Extension is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to verify the guideline value to understand the financial implications, including the fees involved. This value helps in assessing the transaction's legitimacy and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sai Nagar Extension?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 980%.

What are the other streets in Chembakkam with their guideline values?

Other streets in Chembakkam include Sai Nagar at Rs 2,700 per sq.ft, and several streets in Sadhasivam Nagar at Rs 1,100 per sq.ft as of 2024.

What fees are associated with buying property in Sai Nagar Extension?

When buying property in Sai Nagar Extension, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sai Nagar Extension?

The Sub Registrar Office covering Sai Nagar Extension is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.