Guideline Value for UNION SALAI

Union Salai guideline value

The current guideline value of Union Salai, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Union Salai has changed

The guideline value for Union Salai has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 800 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased substantially to Rs 3,000 per sq.ft in 2023, reflecting a 49% rise, and finally reached Rs 3,300 per sq.ft in the 2024 revision, a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Union Salai.

• T.V.H. Property: Rs 3,300 per sq.ft (2024)
• True Value Homes: Rs 6,600 per sq.ft (2024)
• Trinity Park & Trinity Park Phase II: Rs 4,400 per sq.ft (2024)
• Trinity Garden: Rs 4,400 per sq.ft (2024)
• Toraipakkam Colony: Rs 3,900 per sq.ft (2024)
• Thiru VI Ka Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Union Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Union Salai?

The Sub Registrar Office that covers Union Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Union Salai?

The current guideline value of Union Salai 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 increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 313% over the years.

What are the stamp duty rates for properties in Union Salai?

The stamp duty for properties in Union Salai is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is the same as the current guideline value for Union Salai.