Guideline Value for Saibaba Koil Street

Saibaba Koil Street guideline value

The current guideline value of Saibaba Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Saibaba Koil Street has changed

The guideline value for Saibaba Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 increased the guideline value to Rs 1,100 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for Saibaba Koil Street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Saibaba Koil Street's 2024 figure below the median.

• Samraj Nagar Main Road: Rs 950 per sq.ft (2024)
• Sankothi Amman Koil 1st Street: Rs 950 per sq.ft (2024)
• Sankothi Amman Koil 2nd Street: Rs 950 per sq.ft (2024)
• Sankothi Amman Koil Street: Rs 950 per sq.ft (2024)
• Santhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 1st street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saibaba Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saibaba Koil Street?

The Sub Registrar Office that covers Saibaba Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Gowrivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value set by the Registration Department.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost involved in the transaction. The value is used to determine the applicable duties and fees, which are mandatory for the registration process.

Frequently asked questions

What is the current guideline value of Saibaba Koil Street?

The current guideline value of Saibaba Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Saibaba Koil Street?

Saibaba Koil Street is classified as Residential Class I Type - II.

Where is the Sub Registrar Office located for Saibaba Koil Street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Saibaba Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the stamp duty would be Rs 77,000.