Guideline Value for Sri Sai Baba Nagar

Sri Sai Baba Nagar guideline value

The current guideline value of Sri Sai Baba Nagar, located in Boodur village under the Redhills SRO, is Rs 385 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Sai Baba Nagar has changed

Over the years, the guideline value of Sri Sai Baba Nagar has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 300 per sq.ft. This increased to Rs 350 per sq.ft in 2012, but then decreased to Rs 234 per sq.ft in 2017. Following this, the value rose significantly to Rs 350 per sq.ft in 2023, and further increased to Rs 385 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2007 to 2024, the overall increase in guideline value is 28%. Notably, there are no recorded figures for the years 2002 and 2003 for this street, indicating that the register has no figure for this street in those years.

Guideline values in Boodur

In Boodur, there are 15 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 257 to Rs 1,150 per sq.ft. The median guideline value is Rs 385 per sq.ft, which is equal to the current value of Sri Sai Baba Nagar.

• Sothupakkam Road: Rs 385 per sq.ft (2024)
• Shahinsha Baba Nagar: Rs 385 per sq.ft (2024)
• T.P Muthu Nagar: Rs 385 per sq.ft (2024)
• Gomathi Amman Nagar - Annex 14: Rs 385 per sq.ft (2024)
• Golden Shainsha Baba Nagar: Rs 385 per sq.ft (2024)
• Golden Avenue: Rs 385 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 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, making the total fees Rs 34,650. It is important to note that duty is charged on the higher of the guideline value or 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Boodur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in a legal context. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair amount in compliance with local regulations.

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

How has the guideline value changed over the years?

Since 2007, the guideline value has changed from Rs 300 per sq.ft to Rs 385 per sq.ft in 2024, reflecting an overall increase of 28% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 34,650.

Which Sub Registrar Office serves Sri Sai Baba Nagar?

The Redhills Sub Registrar Office serves Sri Sai Baba Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sri Sai Baba Nagar?

Sri Sai Baba Nagar falls under the Residential Class I Type - I land classification, which is important for determining permissible land use and property development regulations.