Guideline Value for Sri Sai Nagar

Sri Sai Nagar guideline value

The current guideline value of Sri Sai Nagar, located in Perungavur village under the Redhills SRO, is Rs 275 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

The guideline value for Sri Sai Nagar has seen significant changes over the years. Starting from Rs 19 per sq.ft in 2003, it rose dramatically by 953% to Rs 200 per sq.ft in 2007. Following this, the value increased by 25% to Rs 250 per sq.ft in 2012. The most recent revision in 2024 saw the guideline value rise by 10% to Rs 275 per sq.ft.

There are no recorded figures for the years 2002, 2017, and 2023 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1347%.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value is Rs 275 per sq.ft, which is the same as the current guideline value for Sri Sai Nagar.

• Sri Sainagar @ Gomathi Amman Nagar Phase - II: Rs 275 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 385 per sq.ft (2024)
• Sri Selva Vigneshwar Nagar: Rs 385 per sq.ft (2024)
• Sri Palathamman Garden: Rs 220 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Lakshmi Nagar Annex: Rs 385 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 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, making the total charges Rs 24,750. 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 more detailed calculations.

Which Sub Registrar Office covers Sri Sai Nagar?

Sri Sai Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perungavur. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved in the transaction.

When a property is sold, the guideline value helps in assessing the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the official register.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar?

The current guideline value of Sri Sai Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 19 per sq.ft to Rs 275 per sq.ft in 2024, representing an overall increase of 1347%.

What is the land classification for Sri Sai Nagar?

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

Where can I find the Sub Registrar Office for Sri Sai Nagar?

The Redhills Sub Registrar Office, which covers Sri Sai Nagar, is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the 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, a property valued at Rs 2,75,000 would incur a stamp duty of Rs 19,250 at 7%.