Guideline Value for Union Salai

Union Salai guideline value

The current guideline value of Union Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Union Salai has changed

The guideline value for Union Salai has seen several revisions over the years. The 2017 revision set the value at Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised this figure to Rs 5,500 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has risen by 64%.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, and Union Salai's current value is below this median.

• Tristar Apartments: Rs 7,100 per sq.ft (2024)
• Tribuvan Flats: Rs 7,100 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 3,300 per sq.ft (2024)
• V.G.N.Aster: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue Phase IV: Rs 7,100 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Union Salai?

The Sub Registrar Office that covers Union Salai is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor during the registration of property transactions in 1. Nolambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction adheres to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Union Salai?

The current guideline value of Union Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the other streets in 1. Nolambur and their guideline values?

Other streets in 1. Nolambur include Tristar Apartments and Tribuvan Flats, both at Rs 7,100 per sq.ft, and Vellalar Street at Rs 5,500 per sq.ft, among others.

What fees are associated with buying property in Union Salai?

When buying property in Union Salai, fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Union Salai?

The Villivakkam Sub Registrar Office covers Union Salai and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.