Guideline Value for Sri Saibaba Nagar

Sri Saibaba Nagar guideline value

The current guideline value of Sri Saibaba Nagar, located in Vellerithangal village under the Gooduvancheri SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and reflects the land classification 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, which was Rs 50 per sq.ft. This value increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, it then dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 300 per sq.ft in 2023 and continues at the same rate in 2024, showing no change from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing the guideline value of Sri Saibaba Nagar below this median.

• SRI RAM Nagar: Rs 1,083 per sq.ft (2024)
• Sri Sairam Nagar: Rs 300 per sq.ft (2024)
• Sri Valli Nagar: Rs 400 per sq.ft (2024)
• Sri Krishna Mohana Nagar Phase III: Rs 903 per sq.ft (2024)
• Sri Balaji Estate: Rs 250 per sq.ft (2024)
• Treasure Land: Rs 400 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 and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Saibaba Nagar?

The Sub Registrar Office that covers Sri Saibaba Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellerithangal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded at a value recognized by the authorities.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and compliance with local regulations during property transactions.

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 seen several changes, from Rs 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropping to Rs 201 per sq.ft in 2017, and remaining at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Sri Saibaba Nagar?

Sri Saibaba Nagar is classified as Residential Special Type - I, which influences its guideline value and usage.

What are the other streets in Vellerithangal?

Other streets in Vellerithangal include SRI RAM Nagar, Sri Sairam Nagar, Sri Valli Nagar, Sri Krishna Mohana Nagar Phase III, Sri Balaji Estate, and Treasure Land, with varying guideline values.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft results in a guideline value of Rs 3,00,000, leading to a total stamp duty and registration fee of Rs 27,000.