Guideline Value for SALAIMANAGAR 2ND STREET

Salaimanagar 2nd Street guideline value

The current guideline value of Salaimanagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Salaimanagar 2nd Street has changed

Over the years, the guideline value of Salaimanagar 2nd Street has seen significant changes. The 2007 revision recorded a value of Rs 550 per sq.ft, which increased to Rs 1,675 per sq.ft in 2017, marking a rise of 205%. The value further increased to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The current 2024 revision shows a guideline value of Rs 2,700 per sq.ft, which is an 8% increase from 2023.

It is noteworthy that the register has no figures for this street for the years 2002, 2003, and 2012. Overall, from 2007 to 2024, the guideline value has increased by 391%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Salaimanagar 2nd Street.

• Salaimanagar 1st Street: Rs 2,700 per sq.ft (2024)
• Salaimanagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Salaimanagar: Rs 2,700 per sq.ft (2024)
• Salaimanagar 4th Street: Rs 2,700 per sq.ft (2024)
• Salaimanagar 5th Street: Rs 2,700 per sq.ft (2024)
• Salaimanagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Salaimanagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Salaimanagar 2nd Street?

The Sub Registrar Office that covers Salaimanagar 2nd Street 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 Perambur

When buying or selling property in Perambur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

The guideline value serves as a benchmark for property transactions, helping to establish a fair price for both buyers and sellers. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Salaimanagar 2nd Street?

The current guideline value of Salaimanagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 391%.

What are the stamp duty and registration fees for a property in Salaimanagar 2nd Street?

The stamp duty for a property valued at Rs 27,00,000 would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Salaimanagar 2nd Street?

The Purasaivakkam Sub Registrar Office handles registrations for Salaimanagar 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Salaimanagar 2nd Street?

Salaimanagar 2nd Street is classified as Residential Class III Type - II under the local land classification system.