Guideline Value for Shrudi Sai Nagar

Shrudi Sai Nagar guideline value

The current guideline value of Shrudi Sai Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Shrudi Sai Nagar has changed

Over the years, the guideline value of Shrudi Sai Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly in the following revisions, with the 2023 revision bringing it up to Rs 2,500 per sq.ft, and the latest 2024 revision further increasing it to Rs 2,750 per sq.ft, a rise of 10% from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, the register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

Madambakkam has a total of 1,151 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, which means that the guideline value of Shrudi Sai Nagar is above this median.

• Sheshadri Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shrudi Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 Shrudi Sai Nagar?

Shrudi Sai Nagar is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

At the time of registration, the stamp duty and registration fees are 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 Shrudi Sai Nagar?

The current guideline value of Shrudi Sai Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Sheshadri Nagar Main Road, Sheshadri Nagar 3rd Street, and others, all with a guideline value of Rs 2,200 per sq.ft in 2024.

What are the fees associated with buying property in Shrudi Sai Nagar?

The fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.