Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Sai Nagar has changed

The guideline value for Sri Sai Nagar has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 3,300 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. The overall change from the 2007 revision to the current 2024 figure is a substantial increase of 340%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which aligns with the guideline value of Sri Sai Nagar.

• Sri Sai Nagar Ext: Rs 2,200 per sq.ft (2024)
• Sri Sai Nagar Extension Vishwak Garden: Rs 3,800 per sq.ft (2024)
• Sri Sakthi nagar: Rs 2,200 per sq.ft (2024)
• Sriram Nagar South: Rs 3,300 per sq.ft (2024)
• Sriram Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sriram Nagar 1st Main Road: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increments and decrements in between, including a notable increase of 340% overall since 2007.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Sri Sai Nagar?

The land classification for Sri Sai Nagar is Residential Class I Type - I, indicating its suitability for residential development.