Guideline Value for Saibaba Colony 3rd Cross Street

Saibaba Colony 3rd Cross Street guideline value

The current guideline value of Saibaba Colony 3rd Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Special Type - II.

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

Over the years, the guideline value for Saibaba Colony 3rd Cross Street has seen significant changes. The earliest available figure is from 2002, which was Rs 350 per sq.ft. This value increased to Rs 388 per sq.ft in 2003, marking an 11% rise. By 2007, the guideline value jumped to Rs 1,100 per sq.ft, reflecting a substantial increase of 184%. In 2012, it reached Rs 6,000 per sq.ft, which was a 445% increase from the previous revision. However, there was a decrease to Rs 4,020 per sq.ft in 2017, a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,786% 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, placing Saibaba Colony 3rd Cross Street's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saibaba Colony 3rd Cross Street?

The Sub Registrar Office that covers Saibaba Colony 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Saibaba Colony 3rd Cross 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, reflecting an overall increase of 1,786% over the years.

What is the land classification for Saibaba Colony 3rd Cross Street?

Saibaba Colony 3rd Cross Street is classified as Residential Special Type - II.

Where is the Sub Registrar Office for this street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000, leading to specific fees based on this amount.