Guideline Value for Sai Nagar

Sai Nagar guideline value

The current guideline value of Sai Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sai Nagar has changed

The guideline value of Sai Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Sai Nagar's 2024 figure below that median.

• Saint Thomas Arthodax Church Road: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue, Brindavan Street: Rs 3,850 per sq.ft (2024)
• Sairam Avenue, Padmavathi Street,Balaiya Garder: Rs 3,850 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Sai Nagar?

The Sub Registrar Office that covers Sai Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used as a basis for calculating stamp duty and registration fees when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sai Nagar?

The current guideline value of Sai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a total increase of 64% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles Sai Nagar properties?

The Velacheri Sub Registrar Office handles properties in Sai Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined in Madipakkam-1?

The guideline value in Madipakkam-1 is determined by the Registration Department and varies by street, based on factors such as land classification and recent revisions.