Guideline Value for SAI NARASIMMA GARDEN PHASE-2

Sai Narasimma Garden Phase-2 guideline value

The current guideline value of Sai Narasimma Garden Phase-2 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-2 has changed

Over the years, the guideline value for Sai Narasimma Garden Phase-2 has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. Following this, the value increased significantly by 49% to Rs 100 per sq.ft in 2023. The most recent revision in 2024 has raised the guideline value to Rs 103 per sq.ft, marking a 3% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 3%, reflecting the changes in the property market in the area.

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 value being Rs 103 per sq.ft. Sai Narasimma Garden Phase-2's current guideline value aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of 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, totaling Rs 9,270. It is important to note that 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-2?

The Sai Narasimma Garden Phase-2 falls under the jurisdiction of the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nelli. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the necessary fees. This ensures that the fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sai Narasimma Garden Phase-2?

The current guideline value of Sai Narasimma Garden Phase-2 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 increased 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-2?

Sai Narasimma Garden Phase-2 is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Sai Narasimma Garden Phase-2?

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

How is the 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 property valued at Rs 1,03,000, the stamp duty would be Rs 7,210 at 7%.