Guideline Value for SALAI MANAGAR (A) SALAICHERI

Salai Managar (A) Salaicheri guideline value

The current guideline value of Salai Managar (A) Salaicheri is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Salai Managar (A) Salaicheri has changed

The guideline value for Salai Managar (A) Salaicheri has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. This was followed by a decrease to Rs 2,680 per sq.ft in 2017, and then a significant rise to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it increased by 10%. The overall increase from the 2007 revision to the current value is 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Salai Managar (A) Salaicheri's current value is below this median.

• Sait Jaswanthmal Sowcar Street: Rs 4,900 per sq.ft (2024)
• Santhiappa Mudali 1st Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 2nd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 3rd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali Main Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Managar (A) Salaicheri

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Salai Managar (A) Salaicheri?

The Sub Registrar Office that covers Salai Managar (A) Salaicheri is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures transparency and compliance with the regulations set by the state authorities.

Frequently asked questions

What is the current guideline value of Salai Managar (A) Salaicheri?

The current guideline value of Salai Managar (A) Salaicheri 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 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What are the stamp duty and registration fees for properties in this area?

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 registration for Salai Managar (A) Salaicheri?

The Purasaivakkam Sub Registrar Office handles property registration for Salai Managar (A) Salaicheri, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

The guideline value is used to determine the minimum value for property registration and helps calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.