Guideline Value

Corporate

Guideline Value for Sri Sai Baba nagar

₹550/sq.ft.

The guideline value for Sri Sai Baba Nagar in Sholavaram village (Redhills SRO, Chennai zone) is Rs 550 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹550 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Sai Baba Nagar

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Sri Sai Baba nagar guideline value

The current guideline value of Sri Sai Baba nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Baba nagar has changed

The guideline value for Sri Sai Baba nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 500 per sq.ft, and the latest revision in 2024 has set the value at Rs 550 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, the most notable changes include a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The overall increase from the 2007 revision to the 2024 revision is 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Sri Sai Baba nagar's 2024 figure below that median.

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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total fees would be Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more accurate 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 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 Sholavaram

The guideline value plays a crucial role in the registration process of property transactions in Sholavaram. It is used to determine the stamp duty and registration fees that need to be paid when purchasing a property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When selling a property, the guideline value can also influence the sale price, as it provides a benchmark for property valuation. Sellers should consider the guideline value when setting their asking price to ensure it aligns with the legal requirements for registration.

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 550 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 550 per sq.ft in 2024, marking an overall increase of 175% over the years.

What are the stamp duty and registration fees in Sri Sai Baba nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 49,500.

Which office handles property registrations in Sri Sai Baba nagar?

The Redhills Sub Registrar Office handles property registrations in Sri Sai Baba nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for property valuation and influences the sale price set by sellers.