Guideline Value for SAIVARALAKSHMI NAGAR

Saivaralakshmi Nagar guideline value

The current guideline value of Saivaralakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Goodaloor village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Saivaralakshmi Nagar has changed

The guideline value for Saivaralakshmi Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, which reflects a 10% rise. Prior to that, in 2017, the value was Rs 335 per sq.ft, marking a significant increase of 49% to 2023. The 2012 revision also had a value of Rs 500 per sq.ft, which was a decrease of 33% from the 2017 figure.

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 Goodaloor

In Goodaloor, there are 53 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,510 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Saivaralakshmi Nagar's 2024 figure below this median.

• Shanthi Nagar (Kod): Rs 660 per sq.ft (2024)
• Shree Nagar Extn (Ward -9): Rs 825 per sq.ft (2024)
• Sri Aathilakshmi Nagar (Ward -9): Rs 660 per sq.ft (2024)
• Sri Ayya Nagar (Kod): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -9): Rs 550 per sq.ft (2024)
• Perumal Koil Street (Ward -9): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Saivaralakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saivaralakshmi Nagar?

Saivaralakshmi Nagar falls under the jurisdiction of the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Goodaloor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. 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 Saivaralakshmi Nagar?

The current guideline value of Saivaralakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What are the other streets in Goodaloor and their guideline values?

Other streets in Goodaloor include Shanthi Nagar at Rs 660 per sq.ft, Shree Nagar Extn at Rs 825 per sq.ft, and Sri Aathilakshmi Nagar at Rs 660 per sq.ft, among others.

What are the stamp duty and registration fees for property in Saivaralakshmi Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 550 per sq.ft, the total fees would be Rs 49,500.

Where can I find the Sub Registrar Office for Saivaralakshmi Nagar?

The Chengleput Joint II Sub Registrar Office covers Saivaralakshmi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.