Guideline Value for Sayee Nagar 2nd Street

Sayee Nagar 2nd Street guideline value

The current guideline value of Sayee Nagar 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class I Type - I.

How the guideline value of Sayee Nagar 2nd Street has changed

Over the years, the guideline value of Sayee Nagar 2nd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,300 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 285%. However, this value decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The subsequent revisions saw the value climb again, reaching Rs 5,000 per sq.ft in 2023, and then increasing to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value rose by 49%, and overall, from 2007 to 2024, it has increased by 323%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Sayee Nagar 2nd Street's 2024 value above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to 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, making the total cost for these fees Rs 4,95,000. 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 Sayee Nagar 2nd Street?

The Sub Registrar Office that covers Sayee Nagar 2nd Street 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 plays a crucial role during the registration process when buying or selling property in Koyakbedu. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both parties comply with the legal requirements set by the Registration Department.

When a property transaction occurs, the guideline value is assessed, and the relevant fees are calculated based on this value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in accordance with the prevailing regulations.

Frequently asked questions

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

The current guideline value of Sayee Nagar 2nd Street 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 increased from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 323%.

What are the stamp duty and registration fees for property in Sayee Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty at 7% is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, totaling Rs 4,95,000 for these fees.

Which Sub Registrar Office covers Sayee Nagar 2nd Street?

The AnnaNagar Sub Registrar Office covers Sayee Nagar 2nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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 is assessed to ensure compliance with legal requirements, being charged on the higher of the guideline value or the sale price.