Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Sri Sai Nagar has changed

The guideline value for Sri Sai Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 586%. However, in 2017, the value decreased to Rs 804 per sq.ft, representing a decline of 33%. The value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 586%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value of Sri Sai Nagar.

• Sri Ram Nagar: Rs 1,201 per sq.ft (2024)
• SRI Ramanar Nagar: Rs 1,201 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 1,200 per sq.ft (2024)
• Sri Ragavendra Nagar Extn-II to VIII: Rs 1,200 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,200 per sq.ft (2024)
• Srinivasa Nagar Extn: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office covering Sri Sai 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 Madambakkam

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 175 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreasing to Rs 804 per sq.ft in 2017, and remaining at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification of Sri Sai Nagar?

Sri Sai Nagar is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Sri Sai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 12,00,000, the stamp duty would be Rs 84,000 at a rate of 7%.