Guideline Value for Sri Sathya Sai Nagar(Akshara City)

Sri Sathya Sai Nagar(Akshara City) guideline value

The current guideline value of Sri Sathya Sai Nagar(Akshara City) is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Papanguzhi village and falls under the Sunguvarchattram SRO, classified as Industries Type - I.

How the guideline value of Sri Sathya Sai Nagar(Akshara City) has changed

Over the years, the guideline value for Sri Sathya Sai Nagar(Akshara City) has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision marked a decrease from Rs 335 per sq.ft in 2012, resulting in a -33% change. The guideline value increased to Rs 500 per sq.ft again in the 2023 revision, maintaining the same figure in the 2024 revision, leading to a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. The changes between the revisions show a significant increase of 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

Guideline values in Papanguzhi

In Papanguzhi, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Sri Sathya Sai Nagar(Akshara City) above that median.

• Thideer Nagar: Rs 200 per sq.ft (2024)
• P.M.S Nagar: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• Palla Street: Rs 200 per sq.ft (2024)
• padasalai Street: Rs 200 per sq.ft (2024)
• odai Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathya Sai Nagar(Akshara City)

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sathya Sai Nagar(Akshara City)?

The Sub Registrar Office that covers Sri Sathya Sai Nagar(Akshara City) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Papanguzhi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher of the guideline value and the actual sale price is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Sathya Sai Nagar(Akshara City)?

The current guideline value of Sri Sathya Sai Nagar(Akshara City) is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 500 per sq.ft in 2023 and 2024, following a significant increase from Rs 335 per sq.ft in 2017.

What are the guideline values of other streets in Papanguzhi?

Other streets in Papanguzhi have varying guideline values, with rates ranging from Rs 200 to Rs 300 per sq.ft. For example, Thideer Nagar has a guideline value of Rs 200 per sq.ft, while P.M.S Nagar is valued at Rs 300 per sq.ft.

What is the stamp duty rate for properties in Sri Sathya Sai Nagar(Akshara City)?

The stamp duty rate for properties in Sri Sathya Sai Nagar(Akshara City) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Sathya Sai Nagar(Akshara City)?

The Sub Registrar Office for Sri Sathya Sai Nagar(Akshara City) is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.