Guideline Value for Sai Ram Nagar Annexe

Sai Ram Nagar Annexe guideline value

The current guideline value of Sai Ram Nagar Annexe is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Sai Ram Nagar Annexe has changed

Over the years, the guideline value for Sai Ram Nagar Annexe has seen several revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in 2023, reflecting a change of +10%. In 2017, the value was Rs 2,345 per sq.ft, marking a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 3,500 per sq.ft, which indicates a decrease of -33% from the 2017 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by +10%. The consistent revisions reflect the changes in property valuations in the area, with the current value aligning with the median of Rs 3,850 per sq.ft for Valasaravakkam.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, where Sai Ram Nagar Annexe's 2024 figure matches this median. The following are other streets in Valasaravakkam:

• Sairam Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue: Rs 3,300 per sq.ft (2024)
• Samandam Nagar: Rs 3,850 per sq.ft (2024)
• Samandam Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Ram Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty is charged at 7%, resulting in Rs 2,69,500, while the registration fee is 2%, amounting to Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Ram Nagar Annexe?

The Sai Ram Nagar Annexe is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, ensuring that the transaction adheres to legal requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established values in the area.

Frequently asked questions

What is the current guideline value of Sai Ram Nagar Annexe?

The current guideline value of Sai Ram Nagar Annexe is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From 2023 to 2024, the guideline value increased by 10%, from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft.

What was the guideline value in previous years?

The guideline value was Rs 2,345 per sq.ft in 2017, Rs 3,500 per sq.ft in 2012, and there are no figures available for the years 2002, 2003, and 2007.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500, with the stamp duty at 7% and registration fee at 2% of the guideline value.

Which office handles property registrations for Sai Ram Nagar Annexe?

The Virugambakkam Sub Registrar Office handles property registrations for Sai Ram Nagar Annexe, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.