Guideline Value for SAI ILLAM

Sai Illam guideline value

The current guideline value of Sai Illam is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Sai Illam has changed

The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for Sai Illam. In the 2023 revision, the guideline value was Rs 3,000 per sq.ft. The latest revision in 2024 increased this value to Rs 3,300 per sq.ft, marking a change of +10% from the previous year.

Thus, the guideline value has risen from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. This increase reflects the adjustments made in the guideline value register by the Registration Department.

Guideline values in Sholinganallur - 1

In 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 these streets is Rs 2,200 per sq.ft, positioning Sai Illam's 2024 figure above this median.

• Sailaja Garden: Rs 1,700 per sq.ft (2024)
• Sailendrakumar Garden: Rs 1,700 per sq.ft (2024)
• Sai Baba Garden: Rs 2,800 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 Illam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Illam?

The Sai Illam property 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 details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate applicable stamp duty and registration fees.

It is essential to ensure that the sale price is in line with the guideline value, as the higher of the two will be used for calculating the stamp duty. This ensures that the transaction is compliant with local regulations and reflects the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sai Illam?

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

What was the guideline value of Sai Illam in 2023?

In 2023, the guideline value of Sai Illam was Rs 3,000 per sq.ft.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased by 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024.

Which Sub Registrar Office covers Sai Illam?

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

What are the stamp duty and registration fees for property in Sai Illam?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.