Guideline Value for SARASWATHI NAGAR EXTENSION

Saraswathi Nagar Extension guideline value

The current guideline value of Saraswathi Nagar Extension is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Saraswathi Nagar Extension has changed

The guideline value for Saraswathi Nagar Extension has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft. Following that, in 2023, the value increased to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Saraswathi Nagar Extension below that median.

• Saraswathi Nagar 2 Nd Street: Rs 1,700 per sq.ft (2024)
• Saraswathi Nagar 1 St Street: Rs 1,700 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,700 per sq.ft (2024)
• Sarathi Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Sarathy Nagar/Avenue: Rs 1,700 per sq.ft (2024)
• Saravanabava Nagar: Rs 2,200 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Saraswathi Nagar Extension?

The Saraswathi Nagar Extension is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is often used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Extension?

The current guideline value of Saraswathi Nagar Extension is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with the 2024 figure for Saraswathi Nagar Extension being below this median.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Saraswathi Nagar Extension?

The Neelankarai Sub Registrar Office handles registrations for Saraswathi Nagar Extension, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.