Guideline Value for Saiwari Garden

Saiwari Garden guideline value

The current guideline value of Saiwari Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Saiwari Garden has changed

The guideline value for Saiwari Garden has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which later decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Saiwari Garden's 2024 figure is above this median.

• Sai Nagar: Rs 3,300 per sq.ft (2024)
• Samdhariya Nagar: Rs 2,200 per sq.ft (2024)
• R.V. Nagar: Rs 2,200 per sq.ft (2024)
• Samy Thottam Govindasamy Street: Rs 2,200 per sq.ft (2024)
• Sankarlingam Nagar: Rs 2,200 per sq.ft (2024)
• Sannathi Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saiwari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important 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 Saiwari Garden?

The Saiwari Garden area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selavoyal. It is used to determine the stamp duty and registration fees payable at the time of registration, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both parties must take the guideline value into account, as it serves as a benchmark for the transaction value. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Saiwari Garden?

The current guideline value of Saiwari Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Saiwari Garden?

Saiwari Garden is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.