Guideline Value for Sri Sathya Sai Nagar (Ward-07)

Sri Sathya Sai Nagar (Ward-07) guideline value

The current guideline value of Sri Sathya Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Sathya Sai Nagar (Ward-07) has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,300 per sq.ft, marking a significant increase of 62% over the seven years. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This change reflects the adjustments made to the guideline value over time, with the latest figure being effective from July 2024. The 2024 value is notably below the median guideline value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

The guideline values for various streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. Sri Sathya Sai Nagar (Ward-07) is at the lower end of this spectrum.

• Sri Sathya Sai Nagar @ Sai Nagar: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,300 per sq.ft (2024)
• Sri Srinivasa Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Sri Subam Avenue: Rs 1,300 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathya Sai Nagar (Ward-07)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Sathya Sai Nagar (Ward-07)?

The Sub Registrar Office that covers Sri Sathya Sai Nagar (Ward-07) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that all transactions are transparent and adhere to the established norms.

Frequently asked questions

What is the current guideline value of Sri Sathya Sai Nagar (Ward-07)?

The current guideline value of Sri Sathya Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is a change of 62% over that period.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft.

What fees are associated with buying property in Sri Sathya Sai Nagar?

When purchasing property in Sri Sathya Sai Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Sathya Sai Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.