Guideline Value for SAI NARASIMMA GARDEN PHASE-7

Sai Narasimma Garden Phase-7 guideline value

The current guideline value of Sai Narasimma Garden Phase-7 is Rs 103 per sq.ft. 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-7 has changed

The guideline value for Sai Narasimma Garden Phase-7 has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 100 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 103 per sq.ft, reflecting a 3% rise 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%.

Guideline values in Nelli

Nelli village has 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-7's 2024 figure matches this median.

• 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-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-7

For a 1,000 sq.ft plot at the current rate of Rs 103 per sq.ft, the 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, totaling Rs 9,270. It is essential to note that the duty is charged on the higher of the guideline value or 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-7?

The Sai Narasimma Garden Phase-7 falls under 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 is a crucial factor during the registration of property transactions in Nelli. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sai Narasimma Garden Phase-7?

The current guideline value for Sai Narasimma Garden Phase-7 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 back 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-7?

Sai Narasimma Garden Phase-7 is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Sai Narasimma Garden Phase-7 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 at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.