Guideline Value for Sai Nagar

Sai Nagar guideline value

The current guideline value of Sai Nagar, located in Thirumudivakkam village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sai Nagar has changed

Since the 2012 revision, the guideline value for Sai Nagar has undergone several changes. In 2012, the guideline value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 3,860 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, indicating that Sai Nagar's 2024 figure of Rs 880 per sq.ft is below the median.

• Saranya Nagar: Rs 1,320 per sq.ft (2024)
• Satheesh Nagar: Rs 660 per sq.ft (2024)
• Sekkizhar Nagar: Rs 1,320 per sq.ft (2024)
• Selliamman Koil Street: Rs 880 per sq.ft (2024)
• Shridi Sai Baba Nagar: Rs 880 per sq.ft (2024)
• Sidco Industrial Area: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Nagar

For a 1,000 sq.ft plot in Sai Nagar at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. 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 Nagar?

The Sub Registrar Office that covers Sai Nagar is 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 Thirumudivakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Thirumudivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the official valuation of the property.

When a property is sold, the guideline value helps determine the taxes owed to the government, which must be settled before the transaction can be completed. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sai Nagar?

The current guideline value of Sai Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Sai Nagar?

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

What are the stamp duty and registration fees for property in Sai Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations in Sai Nagar?

The Padappai Sub Registrar Office handles property registrations for Sai Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.