Guideline Value for SAFAIWALA QUARTERS

Safaiwala Quarters guideline value

The current guideline value of Safaiwala Quarters is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Cantonment Pallavaram village, under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Safaiwala Quarters has changed

The guideline value for Safaiwala Quarters has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally, it has risen to Rs 2,700 per sq.ft in the 2024 revision, marking an increase of 8% from the previous year.

When looking at the changes, the guideline value increased by 49% from 2017 to 2023, while the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, there has been an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value for Safaiwala Quarters.

• Sandhai Road: Rs 3,300 per sq.ft (2024)
• RangasamiPillai Street: Rs 2,700 per sq.ft (2024)
• Rangapillai Street: Rs 3,300 per sq.ft (2024)
• Ranganatha Mudali Street: Rs 5,500 per sq.ft (2024)
• Rajendra Prasad Road: Rs 2,700 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Safaiwala Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. 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 Safaiwala Quarters?

The Safaiwala Quarters falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in accordance with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Safaiwala Quarters?

The current guideline value of Safaiwala Quarters is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 2,700 per sq.ft in 2024, up from Rs 2,500 per sq.ft in 2023. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

Where can I find the registration office for Safaiwala Quarters?

The registration office for Safaiwala Quarters is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in Safaiwala Quarters?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

What is the land classification for Safaiwala Quarters?

Safaiwala Quarters is classified as Residential Class II Type - I, which is important for understanding its use and potential development.