Guideline Value for SalaioraVasikal St

SalaioraVasikal St guideline value

The current guideline value of SalaioraVasikal St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of SalaioraVasikal St has changed

The guideline value for SalaioraVasikal St has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the 2023 revision saw a significant increase to Rs 1,500 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,650 per sq.ft, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current figure for SalaioraVasikal St.

• Sakradish Street: Rs 2,750 per sq.ft (2024)
• Sakkarapani Street, Gomathi Street: Rs 2,750 per sq.ft (2024)
• Sakkarapani Street: Rs 1,650 per sq.ft (2024)
• Sangam Street: Rs 1,650 per sq.ft (2024)
• Sairam Street: Rs 1,650 per sq.ft (2024)
• Sankaranarayanan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SalaioraVasikal St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers SalaioraVasikal St?

The Sub Registrar Office that covers SalaioraVasikal St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can visit this link: find your SRO.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. It is essential to ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of SalaioraVasikal St?

The current guideline value of SalaioraVasikal St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of SalaioraVasikal St?

SalaioraVasikal St falls under the Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for SalaioraVasikal St?

The Sub Registrar Office for SalaioraVasikal St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in SalaioraVasikal St?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,15,500.