Guideline Value for SARASWATHI AVENUE

Saraswathi Avenue guideline value

The current guideline value of Saraswathi Avenue is Rs 1,480 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Special Type - III.

How the guideline value of Saraswathi Avenue has changed

The guideline value for Saraswathi Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 900 per sq.ft. This figure increased to Rs 1,344 per sq.ft in the 2023 revision, marking a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 1,480 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Saraswathi Avenue is above this median.

• Selva Vinayagar Koil Street: Rs 660 per sq.ft (2024)
• R.M. Nagar: Rs 900 per sq.ft (2024)
• Shakthi Nagar: Rs 1,320 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Ranganatha Nagar: Rs 830 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,480 per sq.ft, the guideline value amounts to Rs 14,80,000. The stamp duty at 7% would be Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, bringing the total to Rs 1,33,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Avenue?

The Sub Registrar Office covering Saraswathi Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padappai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Avenue?

The current guideline value of Saraswathi Avenue is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2017 to Rs 1,480 per sq.ft in 2024, marking an overall increase of 64% over the years.

What is the land classification of Saraswathi Avenue?

Saraswathi Avenue is classified as Residential Special Type - III.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Saraswathi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,33,200 in stamp duty and registration fees.