Guideline Value for SPRING FIELD SALAI

Spring Field Salai guideline value

The current guideline value of Spring Field Salai is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Spring Field Salai has changed

The guideline value for Spring Field Salai has seen several revisions over the years. Starting from Rs 310 per sq.ft in 2003, it increased significantly to Rs 1,000 per sq.ft in 2007, marking a 223% rise. The value then rose to Rs 2,500 per sq.ft in 2012, a 150% increase, but saw a decrease to Rs 1,675 per sq.ft in 2017, which was a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,800 per sq.ft, reflecting a 12% increase. Overall, from 2003 to 2024, the guideline value has increased by 803%. The register has no figure for this street in 2002.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft as of 2024. The median value for these streets is Rs 1,700 per sq.ft, placing Spring Field Salai's 2024 figure above that median.

• Sir.C.V.Raman Salai: Rs 3,300 per sq.ft (2024)
• Shreyas Samudhra Ranganathan Avenue: Rs 2,800 per sq.ft (2024)
• Shore Line Institute: Rs 1,100 per sq.ft (2024)
• Shanmugam Garden: Rs 1,100 per sq.ft (2024)
• Senkazhani Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Senkazhani Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Spring Field Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Spring Field Salai?

The Sub Registrar Office that covers Spring Field Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, 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 state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Spring Field Salai?

The current guideline value of Spring Field Salai is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 310 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 803% across the years.

What is the registration office for Spring Field Salai?

The registration office for Spring Field Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Uthandi?

The median guideline value for streets in Uthandi is Rs 1,700 per sq.ft, with Spring Field Salai's 2024 figure being above this median.

How is stamp duty calculated for properties in Spring Field Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000.