Guideline Value for Sri Sathya Sai Nagar @ Sai Nagar

Sri Sathya Sai Nagar @ Sai Nagar guideline value

The current guideline value of Sri Sathya Sai Nagar @ Sai Nagar 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 @ Sai Nagar has changed

The guideline value for Sri Sathya Sai Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 804 per sq.ft. The most recent revision in 2024 increased this value to Rs 1,300 per sq.ft, marking a significant increase of 62% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street, indicating that the guideline value was not established in those revisions.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, which means that the 2024 figure for Sri Sathya Sai Nagar is below this median.

• Sri Sathya Sai Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar (Ward-07): 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 @ Sai Nagar

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 or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathya Sai Nagar @ Sai Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sathya Sai Nagar @ Sai Nagar?

The current guideline value of Sri Sathya Sai Nagar @ Sai Nagar 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, representing a change of 62%. There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft as of 2024, which is above the current guideline value of Rs 1,300 per sq.ft for Sri Sathya Sai Nagar.

What are the stamp duty and registration fees for properties in Sri Sathya Sai Nagar?

For a property valued at Rs 13,00,000, the stamp duty at 7% is Rs 91,000, and the registration fee at 2% is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.