Guideline Value for SARA NAGAR 1 TO 3 STREETS

Sara Nagar 1 To 3 Streets guideline value

The current guideline value of Sara Nagar 1 To 3 Streets is Rs 3,300 per sq.ft. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sara Nagar 1 To 3 Streets has changed

The guideline value for Sara Nagar 1 To 3 Streets has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which matches the current value of Sara Nagar 1 To 3 Streets.

• Sara Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sannathi Street: Rs 3,850 per sq.ft (2024)
• Sarojini Cross Street: Rs 3,300 per sq.ft (2024)
• Sarojini St Extension: Rs 3,300 per sq.ft (2024)
• Sarojini Street: Rs 3,300 per sq.ft (2024)
• Sankar Nagar Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sara Nagar 1 To 3 Streets

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. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sara Nagar 1 To 3 Streets?

The Sub Registrar Office that covers Sara Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value in the eyes of the law.

When a property is sold, the buyer and seller must consider the guideline value as it influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sara Nagar 1 To 3 Streets?

The current guideline value of Sara Nagar 1 To 3 Streets 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Sara Nagar 1 To 3 Streets?

Sara Nagar 1 To 3 Streets is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sara Nagar 1 To 3 Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.