Guideline Value for Sri Sai Baba Nagar

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This locality is situated in Madhavaram village, under the jurisdiction of the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Sai Baba Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease in the 2017 revision, where the value dropped to Rs 804 per sq.ft, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, reflecting a rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. The register does not contain figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sri Sai Baba Nagar is below this median.

• Sri Sai Avenue (Kuthira Kuthi Thazai): Rs 1,300 per sq.ft (2024)
• Sri Ramanujam Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sri Raman Salai (Ward No.21): Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sriraman Salai, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar @ Sai Nagar: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value as it directly influences the costs associated with the transaction, including stamp duty and registration fees.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a notable increase from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is a 62% increase. The value decreased from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017.

What is the land classification for Sri Sai Baba Nagar?

Sri Sai Baba Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Sri Sai Baba Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total stamp duty and registration fees would amount to Rs 1,17,000.

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

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.