Guideline Value for Sri Sai Prithivi Nagar

Sri Sai Prithivi Nagar guideline value

The current guideline value of Sri Sai Prithivi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Perumbakkam village, under the Madurandakam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Sai Prithivi Nagar has changed

The guideline value for Sri Sai Prithivi Nagar has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 20 per sq.ft. This increased to Rs 70 per sq.ft in 2012, marking a significant rise of 250%. However, the value then decreased to Rs 47 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value saw a substantial increase to Rs 100 per sq.ft, reflecting a change of 113%. The current guideline value remains the same as the previous revision, with no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Perumbakkam

In Perumbakkam, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is the same as the current guideline value for Sri Sai Prithivi Nagar.

• Sri Ram Nagar: Rs 103 per sq.ft (2024)
• Sri Venkatesh Nagar: Rs 100 per sq.ft (2024)
• Periyar Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Prithivi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total fees Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Prithivi Nagar?

Sri Sai Prithivi Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the transaction reflects the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Sri Sai Prithivi Nagar?

The current guideline value of Sri Sai Prithivi Nagar is Rs 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 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking a total increase of 400% over the years.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which Sub Registrar Office covers this area?

The Madurandakam Sub Registrar Office covers Sri Sai Prithivi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the other streets in Perumbakkam with guideline values?

Other streets in Perumbakkam include Sri Ram Nagar at Rs 103 per sq.ft, Sri Venkatesh Nagar and Periyar Nagar both at Rs 100 per sq.ft, and Sri Nagar at Rs 400 per sq.ft.