Guideline Value for Sai Nagar

Sai Nagar guideline value

The current guideline value of Sai Nagar, located in Selavoyal village under the Madhavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sai Nagar has changed

Over the years, the guideline value of Sai Nagar has seen several revisions. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, an increase from Rs 3,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 2,010 per sq.ft, which was a significant increase of +49% from the previous 2012 figure of Rs 3,000 per sq.ft. It is important to note that the register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of -33% in the guideline value, while the overall change from 2012 to 2024 shows an increase of +10%. This indicates fluctuations in the guideline value over the years, reflecting the dynamics of the local real estate landscape.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Sai Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Saiwari Garden: Rs 3,300 per sq.ft (2024)
• R.V. Nagar: Rs 2,200 per sq.ft (2024)
• Samdhariya Nagar: Rs 2,200 per sq.ft (2024)
• Samy Thottam Govindasamy Street: Rs 2,200 per sq.ft (2024)
• Sankarlingam Nagar: Rs 2,200 per sq.ft (2024)
• Sannathi Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Nagar?

The Sub Registrar Office that covers Sai Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Selavoyal. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sai Nagar?

The current guideline value of Sai Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sai Nagar has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a +10% increase. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

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

Other streets in Selavoyal include Saiwari Garden at Rs 3,300 per sq.ft, R.V. Nagar, Samdhariya Nagar, Samy Thottam Govindasamy Street, and Sankarlingam Nagar, all at Rs 2,200 per sq.ft, and Sannathi Street at Rs 1,900 per sq.ft.

What is the registration fee for property in Sai Nagar?

The registration fee for property in Sai Nagar is calculated based on the guideline value. For example, a property valued at Rs 33,00,000 would incur a registration fee of Rs 66,000 at a rate of 2%.

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

The Sub Registrar Office covering Sai Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information on how to locate your SRO.