Guideline Value for SALAIVAIYALAR 1ST STREET

Salaivaiyalar 1st Street guideline value

The current guideline value of Salaivaiyalar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Salaivaiyalar 1st Street has changed

The guideline value for Salaivaiyalar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 484 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a 25% rise. In 2007, the value jumped significantly to Rs 907 per sq.ft, reflecting a 50% increase from the previous revision. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2012, which was a remarkable 341% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, showing a decline of 33%. The guideline value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 809%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Salaivaiyalar 1st Street.

• Salavaiyalar Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Salavaiyalar Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Samiyar Garden: Rs 3,300 per sq.ft (2024)
• Rathinam Thottam 1st Street: Rs 4,400 per sq.ft (2024)
• Rathinam Thottam: Rs 3,300 per sq.ft (2024)
• Rangabashyam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Salaivaiyalar 1st Street

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 duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Salaivaiyalar 1st Street?

The Sub Registrar Office that covers Salaivaiyalar 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Saidapet. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling a property, the guideline value will be used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Salaivaiyalar 1st Street?

The current guideline value of Salaivaiyalar 1st Street 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 484 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 809% over the years.

What are the other streets in Saidapet with the same guideline value?

Other streets in Saidapet with the same guideline value of Rs 4,400 per sq.ft include Salavaiyalar Colony 2nd Street, Salavaiyalar Colony 3rd Street, Rathinam Thottam 1st Street, and Rangabashyam Street.

What is the registration fee for properties in Salaivaiyalar 1st Street?

The registration fee for properties in Salaivaiyalar 1st Street is 2% of the guideline value. For example, a property valued at Rs 44,00,000 would incur a registration fee of Rs 88,000.

Where can I find the Sub Registrar Office for Salaivaiyalar 1st Street?

The Sub Registrar Office for Salaivaiyalar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more details online.