Guideline Value for SALAVAIYALAR COLONY 3RD STREET

Salavaiyalar Colony 3rd Street guideline value

The current guideline value of Salavaiyalar Colony 3rd Street is Rs 4,400 per sq.ft. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Salavaiyalar Colony 3rd Street has changed

The guideline value for Salavaiyalar Colony 3rd Street has undergone several revisions over the years. In 2002, the value was Rs 484 per sq.ft, which increased to Rs 606 per sq.ft in 2003, marking a 25% rise. By 2007, the value saw a significant increase to Rs 800 per sq.ft, reflecting a 32% growth. The upward trend continued, with the value reaching Rs 4,000 per sq.ft in 2012, a remarkable 400% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,680 per sq.ft, indicating a 33% drop. However, it rebounded to Rs 4,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, representing a 10% rise from the previous year. There are no figures available for the revisions in years not mentioned in the register.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Salavaiyalar Colony 3rd Street.

• Salavaiyalar Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Salaivaiyalar 1st 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 Salavaiyalar Colony 3rd 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, and the registration fee at 2% would be Rs 88,000, bringing the total costs together 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Salavaiyalar Colony 3rd Street?

The Sub Registrar Office that covers Salavaiyalar Colony 3rd 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, Chennai registration zone.

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 the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Salavaiyalar Colony 3rd Street?

The current guideline value for Salavaiyalar Colony 3rd Street is Rs 4,400 per sq.ft as per the 2024 revision.

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, reflecting an overall increase of 809% over the years.

What is the stamp duty rate applicable in Salavaiyalar Colony 3rd Street?

The stamp duty rate applicable in Salavaiyalar Colony 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Salavaiyalar Colony 3rd Street?

The Sub Registrar Office for Salavaiyalar Colony 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

What is the land classification for Salavaiyalar Colony 3rd Street?

Salavaiyalar Colony 3rd Street is classified as Residential Class II Type - II according to the guideline value register.