Guideline Value for SALAYAR 1ST STREET

Salayar 1st Street guideline value

The current guideline value of Salayar 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - II.

How the guideline value of Salayar 1st Street has changed

Over the years, the guideline value of Salayar 1st Street has seen significant changes. In the 2012 revision, the value was Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a substantial increase of 49%, bringing the value up to Rs 4,500 per sq.ft. The latest revision in 2024 saw another increase to Rs 4,900 per sq.ft, marking a 9% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Salayar 1st Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means Salayar 1st Street's 2024 value is below that median.

• Salai Street: Rs 8,200 per sq.ft (2024)
• SALAI LANE (î£ùð¢ðù¢ ªî¼ «ñø¢è¤ô¢): Rs 8,200 per sq.ft (2024)
• Sambamdam Street: Rs 8,200 per sq.ft (2024)
• Sandaveli Street: Rs 3,300 per sq.ft (2024)
• Sanjeevi Street Thalaiyari Street: Rs 8,200 per sq.ft (2024)
• Saiva Muthiah 6th Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Salayar 1st Street?

The Sub Registrar Office that covers Salayar 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

When buying or selling property in Mylapore, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a reference point for calculating these fees, ensuring that the transaction is documented accurately.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

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

The current guideline value of Salayar 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Salayar 1st Street has changed from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024, reflecting a 9% increase. From 2017 to 2023, it increased by 49% from Rs 3,015 per sq.ft to Rs 4,500 per sq.ft.

What is the land classification for Salayar 1st Street?

Salayar 1st Street is classified as Residential Class V Type - II. This classification is important for understanding the type of development allowed in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Salayar 1st Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office located for Salayar 1st Street?

The Sub Registrar Office for Salayar 1st Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.