Guideline Value for Sayee Nagar

Sayee Nagar guideline value

The current guideline value of Sayee Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Sayee Nagar has changed

The guideline value for Sayee Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 133 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2007, marking a rise of 426%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 186%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, indicating a 10% increase from the previous year.

It is important to note that there is no recorded guideline value for Sayee Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1554%.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Sayee Nagar's current guideline value below that median.

• Sayee Street (Indian Lane): Rs 2,200 per sq.ft (2024)
• Self Help Industrial Estate 1 To 5 Streets: Rs 2,200 per sq.ft (2024)
• Self Help Private Industrial Estate: Rs 2,200 per sq.ft (2024)
• Santhanakrishna Layout: Rs 2,160 per sq.ft (2024)
• Sandhiyamman Nagar: Rs 1,980 per sq.ft (2024)
• Sakthi Nagar Varasithi Vinayagar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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?

The Sub Registrar Office that covers Sayee Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sayee Nagar?

The current guideline value of Sayee Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 133 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1554%.

What is the land classification of Sayee Nagar?

Sayee Nagar falls under the Residential Class I Type - III land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Sayee Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.