Guideline Value for Sri Sai Baba Nagar

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Keelakazhani village, under the Gooduvancheri SRO, and falls under the Residential Special Type - II land classification.

How the guideline value of Sri Sai Baba Nagar has changed

Over the years, the guideline value for Sri Sai Baba Nagar has seen several revisions. In the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 200% increase. However, in the 2017 revision, the value dropped to Rs 402 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. The overall increase from the 2007 revision to the 2024 revision is 200%, reflecting the fluctuations in the guideline value over the years.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sri Sai Baba Nagar is below this median.

• Sri Selva Vinayagar Nagar: Rs 500 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 600 per sq.ft (2024)
• Sri Paramaswamy Nagar: Rs 800 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 700 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Baba Nagar?

The Sub Registrar Office that covers Sri Sai Baba Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Keelakazhani. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is sold, the guideline value is used to assess 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Sai Baba Nagar?

The current guideline value of Sri Sai Baba Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and remained at Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value in Keelakazhani?

The median guideline value in Keelakazhani is Rs 700 per sq.ft, with Sri Sai Baba Nagar's current value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sri Sai Baba Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Sri Sai Baba Nagar?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.