Guideline Value for SAIBABA COLONY

Saibaba Colony guideline value

The current guideline value of Saibaba Colony, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - III.

How the guideline value of Saibaba Colony has changed

The guideline value for Saibaba Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to the current value of Rs 1,110 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the current 2024 revision shows an increase of 11%.

Guideline values in Pallikaranai

Pallikaranai consists of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making Saibaba Colony's current value below this median.

• Sai Balaji Nagar (All Parts): Rs 1,650 per sq.ft (2024)
• Sai Balaji Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Sai Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Sai Ganesh Nagar: Rs 2,200 per sq.ft (2024)
• Sabari Nagar/ Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Sabari Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total fees to Rs 99,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saibaba Colony?

The Sub Registrar Office that covers Saibaba Colony is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in real estate transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the government receives a fair amount of revenue based on the assessed value of the property.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Saibaba Colony?

The current guideline value of Saibaba Colony is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Saibaba Colony.

What are the stamp duty and registration fees for property in Saibaba Colony?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which office handles registrations for Saibaba Colony?

The Chennai South Joint I Sub Registrar Office handles registrations for Saibaba Colony, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.