Guideline Value for SAFA NAGAR PART - II

Safa Nagar Part - II guideline value

The current guideline value of Safa Nagar Part - II is Rs 120 per sq.ft, effective from 1 July 2024. This area is located in Kizhavalem village, under the jurisdiction of the Madurandakam Sub Registrar Office (SRO). The land classification for this street is Commercial Class I Type - I.

How the guideline value of Safa Nagar Part - II has changed

The guideline value for Safa Nagar Part - II has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 120 per sq.ft, which is consistent with the 2023 revision. Prior to that, the 2017 revision set the value at Rs 80 per sq.ft, marking a significant increase of 50% when compared to the 2023 and 2024 rates. The 2012 revision also had a guideline value of Rs 120 per sq.ft, which indicates a decrease of 33% from the 2017 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision shows no change, as both are set at Rs 120 per sq.ft.

Guideline values in Kizhavalem

Kizhavalem village has a total of 19 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 103 per sq.ft, placing Safa Nagar Part - II above this median at Rs 120 per sq.ft.

• Safa Nagar Phase-III: Rs 120 per sq.ft (2024)
• Ryan Garden Village: Rs 100 per sq.ft (2024)
• Saranya Nagar: Rs 102 per sq.ft (2024)
• Sri Balaji Associates Sri Ranga Nagar State Hith Way Golden City: Rs 100 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 400 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Safa Nagar Part - II

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total fees to Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Safa Nagar Part - II?

The Safa Nagar Part - II area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your specific SRO, you can visit this link: find your SRO.

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

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

When registering a property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Safa Nagar Part - II?

The current guideline value of Safa Nagar Part - II is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 120 per sq.ft from 2012 to 2024, with a significant increase from Rs 80 per sq.ft in 2017 to the current rate. The 2023 revision also maintained the value at Rs 120 per sq.ft.

What is the land classification for Safa Nagar Part - II?

Safa Nagar Part - II is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Safa Nagar Part - II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the current guideline value of Rs 120 per sq.ft would incur a total guideline value of Rs 1,20,000, with corresponding fees based on this amount.