Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value for Sri Sai Nagar, located in Chembarambakkam village under the Poonamallee SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Sai Nagar has changed

Over the years, the guideline value for Sri Sai Nagar has seen several revisions. The 2012 revision recorded a guideline value of Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,100 per sq.ft. Notably, the register has no figure for this street in the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is the same as the 2024 guideline value for Sri Sai Nagar.

• Srinivasa Palms @ Sembarambakkam: Rs 3,500 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,540 per sq.ft (2024)
• Sri Golden City J J Nagar: Rs 878 per sq.ft (2024)
• Spotlight: Rs 2,700 per sq.ft (2024)
• Spartan Enclave: Rs 1,540 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 amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chembarambakkam. It determines the minimum value at which a property can be registered and is used to calculate applicable stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. Buyers and sellers must consider the guideline value to understand their financial obligations and the official valuation of the property.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Sai Nagar?

Sri Sai Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the other streets in Chembarambakkam?

Other streets in Chembarambakkam include Srinivasa Palms @ Sembarambakkam, Sri Mahalakshmi Nagar, Sri Krishna Nagar, Sri Golden City J J Nagar, Spotlight, and Spartan Enclave, each with varying guideline values.

Where can I find more information about the registration office?

The Poonamallee Sub Registrar Office covers Sri Sai Nagar. For more details, you can visit the official website to find your SRO.