Guideline Value for R.S.L.SALAI/ROAD

R.S.L.Salai/Road guideline value

The current guideline value of R.S.L.Salai/Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of R.S.L.Salai/Road has changed

The guideline value for R.S.L.Salai/Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. In 2023, the figure increased to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in 2024, marking a 13% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 13% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning R.S.L.Salai/Road's 2024 figure below this median.

• Sadik Basha Street: Rs 2,200 per sq.ft (2024)
• Sai Baba Street: Rs 3,300 per sq.ft (2024)
• Saidanya Avenue: Rs 3,300 per sq.ft (2024)
• Sangarapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Sangarapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ram Garden: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in R.S.L.Salai/Road

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.S.L.Salai/Road?

The Sub Registrar Office covering R.S.L.Salai/Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Palavakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of R.S.L.Salai/Road?

The current guideline value of R.S.L.Salai/Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with R.S.L.Salai/Road's 2024 figure being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.