Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Sai Nagar has changed

Over the years, the guideline value of Sri Sai Nagar has seen significant changes. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 74 per sq.ft. This value increased to Rs 90 per sq.ft in 2003, marking a rise of 22%. Following this, the value surged to Rs 300 per sq.ft in 2007, reflecting a substantial increase of 233%. The guideline value continued to rise, reaching Rs 1,300 per sq.ft in 2012, which was a 333% increase from the previous revision. However, it then decreased to Rs 871 per sq.ft in 2017, showing a decline of 33% before climbing back to Rs 1,300 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the value at Rs 1,400 per sq.ft, which is an 8% increase from 2023.

There are no figures available for the revisions in years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1792%.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Sri Sai Nagar is below this median.

• Sri Ranga Avenue (Madras City Co- Operarive Building Socity Nagar): Rs 2,200 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 2,700 per sq.ft (2024)
• Srinivasa Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,000 per sq.ft (2024)
• Subash Nagar: Rs 2,300 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,800 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 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Nagar?

The Sub Registrar Office that covers Sri Sai Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must agree on a sale price that meets or exceeds the guideline value. This ensures compliance with local regulations and helps in assessing the transaction's legitimacy 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 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 74 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, with various increases and decreases noted in the revisions over the years.

What is the land classification of Sri Sai Nagar?

Sri Sai Nagar falls under the Residential Class III Type - I land classification.

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

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which office handles the registration for Sri Sai Nagar?

The Ambattur Sub Registrar Office handles the registration for Sri Sai Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.