Guideline Value for SARA NAGAR MAIN ROAD

Sara Nagar Main Road guideline value

The current guideline value of Sara Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Sara Nagar Main Road has changed

The guideline value for Sara Nagar Main Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,010 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and in the latest 2024 revision, it rose to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village 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 guideline value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Sara Nagar Main Road.

• Sara Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Sarojini Cross Street: Rs 3,300 per sq.ft (2024)
• Sannathi Street: Rs 3,850 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sara Nagar Main Road?

The Sub Registrar Office that covers Sara Nagar Main Road 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 when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair price for taxation purposes.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Sara Nagar Main Road?

The current guideline value of Sara Nagar Main Road 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.

Where can I find the registration office for Sara Nagar Main Road?

The registration office for Sara Nagar Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value of a property for taxation purposes. It is essential for calculating stamp duty and registration fees during property transactions.