Guideline Value for Saibaba Nagar

Saibaba Nagar guideline value

The current guideline value of Saibaba Nagar, located in Eraiyur village under the Sriperumpudur SRO, is Rs 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 Saibaba Nagar has changed

Over the years, the guideline value of Saibaba Nagar has seen several revisions. The 2007 revision recorded a value of Rs 35 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 134 per sq.ft, before rising again to Rs 200 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 471%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, remaining unchanged at Rs 200 per sq.ft in the subsequent revision. Overall, from 2007 to 2024, the guideline value has increased by 471%.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. Saibaba Nagar's 2024 guideline value aligns with this median.

• Rajiv Town: Rs 200 per sq.ft (2024)
• Petharya Nagar: Rs 200 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Ensamy Nagar: Rs 350 per sq.ft (2024)
• Pavalavannan @ Vidhaya Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Saibaba Nagar?

The Sub Registrar Office that covers Saibaba Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for determining the value of the property and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to assess the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saibaba Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 35 per sq.ft in 2007 to Rs 200 per sq.ft in 2012. It has remained at Rs 200 per sq.ft since the 2023 revision.

What are the guideline values of other streets in Eraiyur?

Other streets in Eraiyur have varying guideline values, with some streets like Rajiv Town and Petharya Nagar also at Rs 200 per sq.ft. Sri Ensamy Nagar has a higher value of Rs 350 per sq.ft.

How is the stamp duty calculated for property in Saibaba Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft would incur a stamp duty of Rs 14,000.

Where can I find the Sub Registrar Office for Saibaba Nagar?

The Sub Registrar Office for Saibaba Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the appropriate link.