Guideline Value for SAIBABA LANE WESTERN SIDE OF OLD MAMBALAM ROAD

Saibaba Lane Western Side Of Old Mambalam Road guideline value

The current guideline value of Saibaba Lane Western Side Of Old Mambalam Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Saibaba Lane Western Side Of Old Mambalam Road has changed

Over the years, the guideline value for Saibaba Lane Western Side Of Old Mambalam Road has seen significant changes. The earliest recorded figure in the register is from 2003, where the value was Rs 618 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a 62% rise. The value then surged by 300% to Rs 4,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The value then climbed to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Notably, the register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 612%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Saibaba Lane Western Side Of Old Mambalam Road below this median.

• Sadayappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Sadayappa Mudali Lane: Rs 5,000 per sq.ft (2024)
• Sambangi Street: Rs 6,600 per sq.ft (2024)
• Reddy Kuppam Road: Rs 7,700 per sq.ft (2024)
• Saradambal Street: Rs 5,500 per sq.ft (2024)
• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Lane Western Side Of Old Mambalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. It is important 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 detailed calculations.

Which Sub Registrar Office covers Saibaba Lane Western Side Of Old Mambalam Road?

The Sub Registrar Office that covers Saibaba Lane Western Side Of Old Mambalam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which properties must be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps in assessing the legal and financial implications of the sale. It ensures that both parties are aware of the official value of the property, which is essential for transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saibaba Lane Western Side Of Old Mambalam Road?

The current guideline value of Saibaba Lane Western Side Of Old Mambalam Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 618 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 612% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for this area?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, handles property registrations for Saibaba Lane Western Side Of Old Mambalam Road.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees during a sale. It ensures transparency and compliance in property transactions.