Guideline Value for SAI BABA GARDEN

Sai Baba Garden guideline value

The current guideline value of Sai Baba Garden is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Sai Baba Garden has changed

The guideline value for Sai Baba Garden has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest 2024 revision has further increased the value to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, placing Sai Baba Garden's 2024 value above this median.

• Sai Illam: Rs 3,300 per sq.ft (2024)
• Sailaja Garden: Rs 1,700 per sq.ft (2024)
• Sailendrakumar Garden: Rs 1,700 per sq.ft (2024)
• Sadaiyandi Street (Grama Nedunchalai 30th Cross Street): Rs 2,200 per sq.ft (2024)
• Sabthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Royal Eternity: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Baba Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Sai Baba Garden?

The Sai Baba Garden area falls under 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 Sholinganallur - 1

The guideline value is a critical factor when registering property transactions in Sholinganallur - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This value is essential for both buyers and sellers to understand their obligations regarding taxes and fees associated with property transactions.

Frequently asked questions

What is the current guideline value of Sai Baba Garden?

The current guideline value of Sai Baba Garden is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,800 per sq.ft in 2024. This represents a total increase of 67% from 2017 to 2024.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with Sai Baba Garden's 2024 value being above this median.

What are the stamp duty rates for properties in Sai Baba Garden?

The stamp duty for properties in Sai Baba Garden is charged at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000.

Where is the Neelankarai Sub Registrar Office located?

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