Guideline Value for SAI NARASIMMA GARDEN PHASE-3

Sai Narasimma Garden Phase-3 guideline value

The current guideline value for Sai Narasimma Garden Phase-3 is Rs 103 per sq.ft, effective from 1 July 2024. This property is located in Nelli village, under the Salavakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Sai Narasimma Garden Phase-3 has changed

The guideline value for Sai Narasimma Garden Phase-3 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 2023 revision increased the value to Rs 100 per sq.ft, and the current 2024 revision has further increased it to Rs 103 per sq.ft, marking a 3% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 3%. Notably, there are no figures available for the revisions in 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 for these streets is Rs 103 per sq.ft, which is equal to the 2024 figure for Sai Narasimma Garden Phase-3.

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

Stamp duty and registration fee for property in Sai Narasimma Garden Phase-3

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be 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 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-3?

The Sai Narasimma Garden Phase-3 is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Nelli. It is used to calculate the stamp duty and registration fees applicable when registering a property sale. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is sold, the guideline value serves as a benchmark for determining the minimum value at which the property can be registered. 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-3?

The current guideline value of Sai Narasimma Garden Phase-3 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-3?

Sai Narasimma Garden Phase-3 is classified as Residential Special Type - I.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is 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 guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000, leading to a stamp duty of Rs 7,210.