Guideline Value for SARASWATHI NAGAR EXTENSION

Saraswathi Nagar Extension guideline value

The current guideline value of Saraswathi Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Saraswathi Nagar Extension has changed

The guideline value for Saraswathi Nagar Extension has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 2,010 per sq.ft. This figure increased to Rs 3,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Saraswathi Nagar Extension is above this median.

• Saraswathi Vidyalaya School Street: Rs 1,650 per sq.ft (2024)
• Saraswathy Nagar: Rs 3,300 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)
• Sathiyavani Muthu Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar Extension

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, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be Rs 2,97,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar Extension?

The Saraswathi Nagar Extension falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Hastinapuram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the government.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value helps in establishing a transparent and standardized approach to property transactions in the region.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Extension?

The current guideline value of Saraswathi Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of 64%.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Saraswathi Nagar Extension, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees for property transactions. It sets the minimum value for registration, ensuring compliance with legal requirements during the buying and selling process.