Guideline Value for Saibaba Colony 3rd Street

Saibaba Colony 3rd Street guideline value

The current guideline value of Saibaba Colony 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Special Type - II.

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

Since the 2002 revision, the guideline value for Saibaba Colony 3rd Street has seen significant changes. In 2002, the guideline value was Rs 350 per sq.ft. This increased to Rs 388 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,100 per sq.ft, reflecting a substantial increase of 184%. The 2012 revision saw the value rise to Rs 6,000 per sq.ft, a dramatic increase of 445%. However, in 2017, it dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a rise to the current Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1786%. There are no figures available for any revisions other than those listed above for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the 2024 guideline value for Saibaba Colony 3rd Street is above this median.

• Saibaba Colony 3rd Cross Street: Rs 6,600 per sq.ft (2024)
• Sai Baba Colony Main Road: Rs 6,600 per sq.ft (2024)
• Saibaba Colony 2nd Street: Rs 6,600 per sq.ft (2024)
• Saibaba Colony 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• Saibaba Colony 1st Street: Rs 6,600 per sq.ft (2024)
• Saibaba Colony 1st Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. 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 on fees.

Which Sub Registrar Office covers Saibaba Colony 3rd Street?

The Saibaba Colony 3rd Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value helps to establish a baseline for the transaction, ensuring that the property is registered at a value that reflects the current market conditions as defined by the local authorities.

Frequently asked questions

What is the current guideline value of Saibaba Colony 3rd Street?

The current guideline value of Saibaba Colony 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 1786%.

What are the stamp duty and registration fees for property in Saibaba Colony 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000. The stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Saibaba Colony 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for Saibaba Colony 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined in Virugambakkam?

The guideline value in Virugambakkam is determined by the local authorities and is based on various factors, including land classification and historical price revisions. It serves as a reference for calculating stamp duty and registration fees during property transactions.