Guideline Value for Sai Rai Nagar

Sai Rai Nagar guideline value

The current guideline value of Sai Rai Nagar, located in Srinivasapuram village under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sai Rai Nagar has changed

Looking at the historical revisions, the guideline value for Sai Rai Nagar was Rs 1,400 per sq.ft in 2023, which increased by 11% to reach the current value of Rs 1,550 per sq.ft in 2024. Prior to 2023, the value was Rs 938 per sq.ft in 2017, marking a significant increase of 49% over six years. In 2012, the value was Rs 1,400 per sq.ft, which indicates a decrease of 33% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sai Rai Nagar's current value below this median.

• R.R.Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,750 per sq.ft (2024)
• Seven Hills Nagar: Rs 2,000 per sq.ft (2024)
• Rajarathinam Nagar / Annexe: Rs 2,000 per sq.ft (2024)
• Ragavendira Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Rai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty, charged at 7%, would be Rs 1,08,500, while the registration fee at 2% would be Rs 31,000, bringing the total cost to Rs 1,39,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sai Rai Nagar?

The Sai Rai Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Srinivasapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value is also referenced to ensure that the transaction complies with the legal requirements set by the Registration Department. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sai Rai Nagar?

The current guideline value of Sai Rai Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the stamp duty for a property in Sai Rai Nagar?

The stamp duty for a property in Sai Rai Nagar is calculated at 7% of the guideline value. For example, for a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500.

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

The Kunrathur Sub Registrar Office covers Sai Rai Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sai Rai Nagar?

Sai Rai Nagar is classified as Residential Class I Type - I, which is significant for property transactions and development regulations in the area.