Guideline Value for Sait colony 1st street

Sait colony 1st street guideline value

The current guideline value of Sait colony 1st street is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Mixed Type - I land.

How the guideline value of Sait colony 1st street has changed

Over the years, the guideline value for Sait colony 1st street has seen significant changes. In 2003, the guideline value was Rs 1,619 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007, marking a rise of 147%. The value then surged to Rs 12,300 per sq.ft in 2012, reflecting a remarkable increase of 208%. However, it dropped to Rs 8,241 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 12,300 per sq.ft in 2023, before reaching the current value of Rs 13,400 per sq.ft in 2024, representing a 9% increase.

Overall, from 2003 to 2024, the guideline value has increased by 728%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Sait colony 1st street is above this median.

• Sait colony 2ndt street: Rs 13,400 per sq.ft (2024)
• Sait Colony 3rd Street: Rs 13,400 per sq.ft (2024)
• Sadhu Chetty street: Rs 7,100 per sq.ft (2024)
• Sami chetty street: Rs 7,100 per sq.ft (2024)
• Samipuram: Rs 3,400 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sait colony 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would amount to Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000. Together, the total fees would be Rs 12,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sait colony 1st street?

The Sub Registrar Office that covers Sait colony 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Egmore. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure accurate calculations of these fees.

During the registration process, 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 government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sait colony 1st street?

The current guideline value of Sait colony 1st street is Rs 13,400 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 1,619 per sq.ft in 2003 to Rs 13,400 per sq.ft in 2024, marking an overall increase of 728% over this period.

What is the land classification of Sait colony 1st street?

Sait colony 1st street is classified as Mixed Type - I land, according to the registration records.

Where can I find the Sub Registrar Office for Sait colony 1st street?

The Sub Registrar Office for Sait colony 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 1,34,00,000, the total fees would amount to Rs 12,06,000.