Guideline Value for SAI NARASIMMA GARDEN PHASE-1

Sai Narasimma Garden Phase-1 guideline value

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

How the guideline value of Sai Narasimma Garden Phase-1 has changed

The guideline value for Sai Narasimma Garden Phase-1 has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then decreased to Rs 67 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 100 per sq.ft, and the latest 2024 revision raised it to Rs 103 per sq.ft, marking a 3% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 3%. 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, with the median being Rs 103 per sq.ft. Sai Narasimma Garden Phase-1's 2024 figure aligns with this median.

• Sai Narasimma Garden: 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 -5: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-6: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Narasimma Garden Phase-1

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, making the total fees Rs 9,270. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sai Narasimma Garden Phase-1?

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

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

The guideline value is a critical factor when registering property transactions in Nelli. It determines the minimum value at which properties can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price and the guideline value are compared, and the higher amount is used to calculate the stamp duty. 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-1?

The current guideline value of Sai Narasimma Garden Phase-1 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 finally to Rs 103 per sq.ft in 2024.

What is the land classification for Sai Narasimma Garden Phase-1?

Sai Narasimma Garden Phase-1 is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Sai Narasimma Garden Phase-1?

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

How is stamp duty calculated for properties in Nelli?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees can be calculated accordingly.