Guideline Value for SALAVAKKAM COLONY BAZANI KOVIL STREET

Salavakkam Colony Bazani Kovil Street guideline value

The current guideline value of Salavakkam Colony Bazani Kovil Street is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village, under the Salavakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Salavakkam Colony Bazani Kovil Street has changed

The guideline value for Salavakkam Colony Bazani Kovil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 75 per sq.ft, which then changed to Rs 50 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 100 per sq.ft in 2023. The most recent 2024 revision has further increased it to Rs 101 per sq.ft, marking a 1% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 shows an increase of 35%, with a dramatic 100% rise from 2017 to 2023.

Guideline values in Salavakkam

In Salavakkam village, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. Salavakkam Colony Bazani Kovil Street's 2024 guideline value is below this median.

• Salavakkam Colony Dhedeer Nagar: Rs 102 per sq.ft (2024)
• Salavakkam Colony Mettu Street: Rs 102 per sq.ft (2024)
• Reddy Street: Rs 175 per sq.ft (2024)
• Sindhu Nagar: Rs 200 per sq.ft (2024)
• Sindhu Nagar Phase-I: Rs 100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Salavakkam Colony Bazani Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty, calculated at 7%, would be Rs 7,070, while the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Salavakkam Colony Bazani Kovil Street?

The Salavakkam Colony Bazani Kovil Street falls under the jurisdiction of the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Salavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. This helps in understanding the costs involved and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Salavakkam Colony Bazani Kovil Street?

The current guideline value of Salavakkam Colony Bazani Kovil Street is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for this street?

Salavakkam Colony Bazani Kovil Street is classified as Residential Class IV Type - I.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 at a rate of 7%.