Guideline Value for Sai Sri Sastha Nagar Phase 1 & 2

Sai Sri Sastha Nagar Phase 1 & 2 guideline value

The current guideline value of Sai Sri Sastha Nagar Phase 1 & 2 is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Mamandoor village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Sai Sri Sastha Nagar Phase 1 & 2 has changed

Over the years, the guideline value for Sai Sri Sastha Nagar Phase 1 & 2 has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, this was followed by a significant increase to Rs 500 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, showing no percentage change between these two years.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the guideline values from 2012 to 2024, there has been no change, maintaining the value at Rs 500 per sq.ft.

Guideline values in Mamandoor

Mamandoor village has 41 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 300 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, which is equal to the current guideline value of Sai Sri Sastha Nagar Phase 1 & 2. Below are the guideline values for other streets in Mamandoor:

• R.P.G Rainbow City: Rs 800 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• Raji Nagar: Rs 300 per sq.ft (2024)
• Raja Garden: Rs 400 per sq.ft (2024)
• S.P.Avenue: Rs 300 per sq.ft (2024)
• Sri Padmaladha Avenue: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Sri Sastha Nagar Phase 1 & 2

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, calculated at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Sri Sastha Nagar Phase 1 & 2?

The Sub Registrar Office that covers Sai Sri Sastha Nagar Phase 1 & 2 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mamandoor. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sai Sri Sastha Nagar Phase 1 & 2?

The current guideline value of Sai Sri Sastha Nagar Phase 1 & 2 is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions showing no change from 2023 to 2024, while there was a significant increase of 49% from 2017 to 2023.

What is the classification of the land in Sai Sri Sastha Nagar Phase 1 & 2?

The land classification for Sai Sri Sastha Nagar Phase 1 & 2 is Residential Special Type - II.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Mamandoor?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the same value.