Guideline Value for Sayee Nagar Annexe

Sayee Nagar Annexe guideline value

The current guideline value of Sayee Nagar Annexe, located in Koyakbedu village under the AnnaNagar SRO, is Rs 5,500 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sayee Nagar Annexe has changed

Over the years, the guideline value of Sayee Nagar Annexe has seen several revisions. The 2007 revision set the value at Rs 2,604 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value experienced a significant rise to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

When we look at the percentage changes, the guideline value increased by 92% from 2007 to 2012, decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 shows an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 111%.

Guideline values in Koyakbedu

Koyakbedu village has a range of guideline values across its 270 streets under the AnnaNagar SRO, with values varying 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, making the 2024 figure for Sayee Nagar Annexe above this median.

• Sayee Nagar 7th and 8th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar Ist Cross Street: Rs 4,400 per sq.ft (2024)
• Sayee Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 4th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Nagar Annexe

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, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sayee Nagar Annexe?

The Sub Registrar Office that covers Sayee Nagar Annexe 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

When buying or selling a property in Koyakbedu, the guideline value is an essential factor in determining the registration fees and stamp duty. The registration process requires that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented.

It is crucial for buyers and sellers to be aware of the current guideline value as it directly influences the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sayee Nagar Annexe?

The current guideline value of Sayee Nagar Annexe 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 2,604 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 111% over the years.

What is the land classification of Sayee Nagar Annexe?

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

Where can I find the Sub Registrar Office for Sayee Nagar Annexe?

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

How is stamp duty calculated for properties in Sayee Nagar Annexe?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.