Guideline Value for Sai Thirumala nagar

Sai Thirumala nagar guideline value

The current guideline value of Sai Thirumala nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Keezhavedu village under the Chengleput Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Sai Thirumala nagar has changed

The guideline value for Sai Thirumala nagar has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 140 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, this was followed by a decrease to Rs 402 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, and the same value has been retained in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 24%. The substantial rise from 2007 to 2012 was 329%, while the overall change from 2007 to 2024 reflects an increase of 257%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Keezhavedu

In Keezhavedu, there are 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 415 to Rs 1,500 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value of Sai Thirumala nagar is below this median.

• Rajammal Nagar: Rs 635 per sq.ft (2024)
• Sri Narayana Nagar: Rs 750 per sq.ft (2024)
• Om Sakthi Nagar: Rs 620 per sq.ft (2024)
• Jayaram Nagar Part-I: Rs 750 per sq.ft (2024)
• Jayaram Nagar: Rs 635 per sq.ft (2024)
• Golden heaven Phase II: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Thirumala nagar

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 at 7% would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total cost for these fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sai Thirumala nagar?

The Sub Registrar Office that covers Sai Thirumala nagar is the Chengleput Joint I 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 Keezhavedu

The guideline value plays a crucial role in property transactions in Keezhavedu. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction. It is essential for both parties to understand that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of Sai Thirumala nagar?

The current guideline value of Sai Thirumala nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with various revisions in between, including a peak of Rs 600 per sq.ft in 2012 and a drop to Rs 402 per sq.ft in 2017.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 5,00,000. The stamp duty at 7% is Rs 35,000, and the registration fee at 2% is Rs 10,000, totaling Rs 45,000 for these fees.

Which Sub Registrar Office covers Sai Thirumala nagar?

The Chengleput Joint I Sub Registrar Office covers Sai Thirumala nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for determining the amounts payable to the authorities based on the higher of the guideline value or the sale price.