Guideline Value for SAI BABA STREET

Sai Baba Street guideline value

The current guideline value of Sai Baba Street in Palavakkam village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Sai Baba Street has changed

The guideline value for Sai Baba Street has undergone several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Sai Baba Street.

• Saidanya Avenue: Rs 3,300 per sq.ft (2024)
• Sadik Basha Street: Rs 2,200 per sq.ft (2024)
• R.S.L.Salai/Road: Rs 1,700 per sq.ft (2024)
• Sangarapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Sangarapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Baba Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Sai Baba Street?

The Sub Registrar Office that covers Sai Baba Street 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 in the registration process when buying or selling property in Palavakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sai Baba Street?

The current guideline value of Sai Baba Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sai Baba Street?

Sai Baba Street is classified as Residential Class II Type - II.

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.

How is stamp duty calculated for properties in Palavakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.