Guideline Value for SARASWATHI AVENUE

Saraswathi Avenue guideline value

The current guideline value of Saraswathi Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Saraswathi Avenue has changed

The guideline value for Saraswathi Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing the 2024 figure for Saraswathi Avenue above that median.

• Sarada Garden: Rs 1,800 per sq.ft (2024)
• Santha Nagar: Rs 2,200 per sq.ft (2024)
• Sangeetha Sabha: Rs 1,300 per sq.ft (2024)
• Sampathkumar Street: Rs 2,750 per sq.ft (2024)
• School Street: Rs 850 per sq.ft (2024)
• Secratoriyam Colony: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Avenue?

The Sub Registrar Office covering Saraswathi Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees owed during the sale or purchase of property.

When buyers or sellers engage in property transactions, the guideline value is referenced to ensure that the appropriate fees are calculated based on the current rates. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Saraswathi Avenue?

The current guideline value of Saraswathi Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

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

Other streets in Selaiyur include Sarada Garden at Rs 1,800 per sq.ft, Santha Nagar at Rs 2,200 per sq.ft, and Sampathkumar Street at Rs 2,750 per sq.ft, among others.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions in Selaiyur is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saraswathi Avenue?

The Sub Registrar Office for Saraswathi Avenue is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.