Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kavulbazaar village under the Pammal SRO, classified as Residential Class I 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 2017 revision set the value at Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

In Kavulbazaar, there are 44 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median value is Rs 825 per sq.ft, placing Sri Sai Nagar's 2024 guideline value above this median.

• Sudharma: Rs 1,100 per sq.ft (2024)
• VGN Souther Garden: Rs 1,100 per sq.ft (2024)
• Vgn Southern Garden Extn: Rs 1,100 per sq.ft (2024)
• Rathinavel Nagar: Rs 825 per sq.ft (2024)
• Ramalinga Nagar: Rs 1,100 per sq.ft (2024)
• Vivekanandha Nagar: Rs 825 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, while the registration fee, at 2%, would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. 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 Nagar?

The current guideline value of Sri Sai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, representing a total increase of 64% over this period.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Sri Sai Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in Sri Sai Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Kavulbazaar?

The guideline value for properties in Kavulbazaar is determined by the Registration Department and is based on various factors including location and land classification. It is used as a basis for calculating stamp duty and registration fees during property transactions.