Guideline Value for Sairak Nagar

Sairak Nagar guideline value

The current guideline value of Sairak Nagar, located in Kaspapuram village, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - IV.

How the guideline value of Sairak Nagar has changed

Since the 2012 revision, the guideline value for Sairak Nagar has undergone several changes. In 2012, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year. The overall change from 2012 to 2024 shows a 10% increase.

Between the revisions, the most notable change occurred from 2017 to 2023, where the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% rise. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has 76 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value of Sairak Nagar.

• Sai Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sakunthala First Cross Street: Rs 550 per sq.ft (2024)
• Sakunthala Second Cross Street: Rs 550 per sq.ft (2024)
• Sakunthala Third Cross Street: Rs 550 per sq.ft (2024)
• Rajiv Gandhi Nagar Main Road: Rs 550 per sq.ft (2024)
• Shibin City: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sairak Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is essential 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 further calculations.

Which Sub Registrar Office covers Sairak Nagar?

The Sub Registrar Office that covers Sairak Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

The guideline value is a critical factor in the registration process of property transactions in Kaspapuram. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable charges based on the property's size and location. It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Sairak Nagar?

The current guideline value of Sairak Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sairak Nagar?

Sairak Nagar is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty rates in Sairak Nagar?

The stamp duty rate for property in Sairak Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Sairak Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.