Guideline Value for Sayee Nagar 3rd Street

Sayee Nagar 3rd Street guideline value

The current guideline value of Sayee Nagar 3rd Street 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 3rd Street has changed

The guideline value for Sayee Nagar 3rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,300 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The changes in value from 2017 to 2023 marked a substantial increase of 49%, while the jump from 2023 to 2024 reflects a 10% increase.

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

Guideline values in Koyakbedu

Koyakbedu features a range of guideline values across its 270 streets under the AnnaNagar SRO, with the 2024 figures 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 3rd Street's 2024 value above this median.

• Sayee Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 7th and 8th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Nagar 3rd Street

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 amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sayee Nagar 3rd Street?

The Sub Registrar Office that covers Sayee Nagar 3rd 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 details.

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

The guideline value is a crucial factor in property transactions in Koyakbedu, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sayee Nagar 3rd Street?

The current guideline value of Sayee Nagar 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 323% over the years.

What is the land classification for Sayee Nagar 3rd Street?

Sayee Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for this street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, is responsible for the registration of properties in Sayee Nagar 3rd Street.