Guideline Value for Sayee Nagar 2nd Main Road

Sayee Nagar 2nd Main Road guideline value

The current guideline value of Sayee Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sayee Nagar 2nd Main Road has changed

In the 2007 revision, the guideline value was Rs 1,300 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 285%. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision saw a substantial increase to Rs 5,000 per sq.ft, followed by another increase to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 323%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft as per the 2024 revision. The median value for the village is Rs 4,400 per sq.ft, which means that the guideline value for Sayee Nagar 2nd Main Road is above this median.

• Sayee Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 1st Main Road: Rs 5,500 per sq.ft (2024)
• Sayee Nagar: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 5th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Sayee Nagar 2nd Main Road?

The Sub Registrar Office that covers Sayee Nagar 2nd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Koyakbedu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a baseline for negotiations. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Sayee Nagar 2nd Main Road?

The current guideline value of Sayee Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 323%.

What are the other streets with the same guideline value in Koyakbedu?

Other streets in Koyakbedu with the same guideline value of Rs 5,500 per sq.ft include Sayee Nagar 2nd Street, Sayee Nagar 1st Main Road, Sayee Nagar, Sayee Nagar 3rd Street, Sayee Nagar 4th Street, and Sayee Nagar 5th Street.

What fees are associated with property registration in Sayee Nagar 2nd Main Road?

When registering property in Sayee Nagar 2nd Main Road, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sayee Nagar 2nd Main Road located?

The Sub Registrar Office for Sayee Nagar 2nd Main Road is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.