Guideline Value for Sri Sai Residency

Sri Sai Residency guideline value

The current guideline value for Sri Sai Residency in Chendrampakkam village is Rs 165 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Residency has changed

The guideline value for Sri Sai Residency has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 150 per sq.ft in 2012, marking a 50% rise. However, in 2017, the value dropped to Rs 100 per sq.ft again. The 2023 revision saw a significant increase to Rs 150 per sq.ft, followed by a further increase to Rs 165 per sq.ft in 2024, reflecting a 10% change from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 65%, demonstrating a gradual upward trend in the value over the years.

Guideline values in Chendrampakkam

In Chendrampakkam, there are 13 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 385 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Sri Sai Residency is below this median.

• Sri Srinivasa Nagar: Rs 234 per sq.ft (2024)
• Shanthi Nagar Annex II: Rs 275 per sq.ft (2024)
• Shanthi Nagar Annex-I: Rs 275 per sq.ft (2024)
• Shanthi Nagar: Rs 275 per sq.ft (2024)
• Sairam Nagar: Rs 165 per sq.ft (2024)
• R.V. Krishnan Chettiyar Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value amounts to Rs 1,65,000. The stamp duty at 7% would be Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total cost for duty and registration to Rs 14,850. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Residency?

The Sub Registrar Office that covers Sri Sai Residency is 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 Chendrampakkam

When buying or selling property in Chendrampakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which property transactions are registered, ensuring that the government receives the appropriate revenue from these transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions, including the costs associated with registration and the applicable duties.

Frequently asked questions

What is the current guideline value for Sri Sai Residency?

The current guideline value for Sri Sai Residency is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 165 per sq.ft in 2024, reflecting a 65% increase over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 14,850.

Which Sub Registrar Office covers Sri Sai Residency?

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

What is the land classification for Sri Sai Residency?

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