Guideline Value for SAFA NAGAR PHASE-III

Safa Nagar Phase-III guideline value

The current guideline value of Safa Nagar Phase-III is Rs 120 per sq.ft. This area is located in Kizhavalem village and falls under the Madurandakam SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Safa Nagar Phase-III has changed

The guideline value for Safa Nagar Phase-III has experienced several revisions over the years. The 2012 revision set the value at Rs 120 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision saw a decrease to Rs 80 per sq.ft, marking a 33% drop from the previous figure. The 2024 revision has brought the value back to Rs 120 per sq.ft, reflecting no change from the 2023 figure.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 120 per sq.ft. Overall, comparing the 2012 and 2024 revisions, there has been no change, maintaining the guideline value at Rs 120 per sq.ft.

Guideline values in Kizhavalem

In Kizhavalem village, there are 19 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value is Rs 103 per sq.ft, placing the guideline value of Safa Nagar Phase-III above this median.

• Safa Nagar Part - II: 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 Phase-III

For a 1,000 sq.ft plot at the current rate of Rs 120 per sq.ft, the 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 to Rs 10,800. Please 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 Safa Nagar Phase-III?

The Safa Nagar Phase-III 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 find your SRO here.

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

The guideline value is essential during the registration of property transactions in Kizhavalem. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the appropriate taxes are collected based on the property's value.

When buying or selling property, it is crucial to be aware of the guideline value as it can influence the overall costs involved in the transaction. This value helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Safa Nagar Phase-III?

The current guideline value of Safa Nagar Phase-III 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 since the 2012 revision, with a drop to Rs 80 per sq.ft in 2017, followed by a return to Rs 120 per sq.ft in 2024.

What is the land classification for Safa Nagar Phase-III?

The land classification for Safa Nagar Phase-III is Commercial Class I Type - I, indicating 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 Phase-III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,20,000, the stamp duty would be Rs 8,400 at 7%.