Guideline Value for Sri Saibaba Nagar

Sri Saibaba Nagar guideline value

The current guideline value of Sri Saibaba Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Erivakkam village under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Saibaba Nagar has changed

Over the years, the guideline value of Sri Saibaba Nagar has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 40 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, maintaining the same value until the 2017 revision when it rose to Rs 201 per sq.ft. The guideline value then remained unchanged at Rs 300 per sq.ft during the 2023 revision and continues to be the same in the 2024 revision, showing no percentage change from 2023 to 2024.

From 2007 to 2012, the value increased by 650%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, resulting in an overall increase of 650% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which means Sri Saibaba Nagar's current guideline value is below that median.

• Thiru Balaji Avenue: Rs 300 per sq.ft (2024)
• Thirumala Nagar: Rs 400 per sq.ft (2024)
• Saroja Nagar Phase-I: Rs 250 per sq.ft (2024)
• Sai Lakshmi Township: Rs 500 per sq.ft (2024)
• Purushothaman Nagar: Rs 200 per sq.ft (2024)
• Priyadharshini Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saibaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Saibaba Nagar?

The Sri Saibaba Nagar locality falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the prevailing property values in the area.

Frequently asked questions

What is the current guideline value of Sri Saibaba Nagar?

The current guideline value of Sri Saibaba Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then to Rs 201 per sq.ft in 2017, and back to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Sri Saibaba Nagar?

Sri Saibaba Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Sri Saibaba Nagar?

The registration office covering Sri Saibaba Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Saibaba Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 3,00,000, resulting in a stamp duty of Rs 21,000.