Guideline Value for SAI NARASIMMA GARDEN PHASE -5

Sai Narasimma Garden Phase -5 guideline value

The current guideline value of Sai Narasimma Garden Phase -5 is Rs 103 per sq.ft, effective from 1 July 2024. This property is located in Nelli village under the Salavakkam SRO, classified as Residential Special Type - I.

How the guideline value of Sai Narasimma Garden Phase -5 has changed

The guideline value for Sai Narasimma Garden Phase -5 has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in the 2023 revision, and currently stands at Rs 103 per sq.ft from the 2024 revision, marking a change of +3% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of +49%. Overall, the guideline value has seen a slight increase of +3% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft. The median value is Rs 103 per sq.ft, which is equal to the guideline value of Sai Narasimma Garden Phase -5.

• Sai Narasimma Garden Phase-1: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-2: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-3: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-4: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-6: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-7: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Narasimma Garden Phase -5

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total fees to Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sai Narasimma Garden Phase -5?

The Sai Narasimma Garden Phase -5 is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Nelli. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sai Narasimma Garden Phase -5?

The current guideline value of Sai Narasimma Garden Phase -5 is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and currently stands at Rs 103 per sq.ft from the 2024 revision.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at Rs 103 per sq.ft, the total guideline value is Rs 1,03,000. The stamp duty is Rs 7,210, and the registration fee is Rs 2,060, totaling Rs 9,270.

Which office handles the registration for Sai Narasimma Garden Phase -5?

The registration for Sai Narasimma Garden Phase -5 is handled by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What is the land classification for Sai Narasimma Garden Phase -5?

Sai Narasimma Garden Phase -5 is classified as Residential Special Type - I, indicating its suitability for residential development.