Guideline Value for Sayee Nagar 7th and 8th Street

Sayee Nagar 7th and 8th Street guideline value

The current guideline value of Sayee Nagar 7th and 8th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO and is classified as Residential Class I Type - I.

How the guideline value of Sayee Nagar 7th and 8th Street has changed

The guideline value for Sayee Nagar 7th and 8th 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, this value decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, 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

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making the 2024 guideline value of Sayee Nagar 7th and 8th Street above that median.

• Sayee Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar Annexe: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar Ist Cross Street: Rs 4,400 per sq.ft (2024)
• Sayee Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Nagar 7th and 8th 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, and the registration fee at 2% would be Rs 1,10,000, making the total cost Rs 4,95,000. It is important to note that 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 Sayee Nagar 7th and 8th Street?

The Sub Registrar Office that covers Sayee Nagar 7th and 8th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sayee Nagar 7th and 8th Street?

The current guideline value of Sayee Nagar 7th and 8th 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, reflecting an overall increase of 323% over the years.

What is the stamp duty rate for property in Sayee Nagar 7th and 8th Street?

The stamp duty rate for property in Sayee Nagar 7th and 8th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Sayee Nagar 7th and 8th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value for streets in Koyakbedu?

The median guideline value for streets in Koyakbedu is Rs 4,400 per sq.ft, with Sayee Nagar 7th and 8th Street's 2024 guideline value being above this median.