Guideline Value for SARASWATHI NAGAR PHASE -1

Saraswathi Nagar Phase -1 guideline value

The current guideline value of Saraswathi Nagar Phase -1 is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Uthukadu-B village and falls under the Walajabad SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Saraswathi Nagar Phase -1 has changed

The guideline value for Saraswathi Nagar Phase -1 has seen several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft. This was followed by the 2023 revision, which maintained the value at Rs 300 per sq.ft, showing an increase of 49% from the 2017 figure. The current 2024 revision also retains the value at Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that 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, there has been a 49% increase in the guideline value.

Guideline values in Uthukadu-B

In Uthukadu-B, there are 33 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Saraswathi Nagar Phase -1 is below this median.

• Saraswathi Nagar: Rs 300 per sq.ft (2024)
• Sangeetha Nagar: Rs 350 per sq.ft (2024)
• Spring Fields: Rs 300 per sq.ft (2024)
• Sri Aksaya Garden: Rs 400 per sq.ft (2024)
• Sri Balaji Avenue: Rs 771 per sq.ft (2024)
• Sri Balamurugan Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar Phase -1

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar Phase -1?

The Sub Registrar Office that covers Saraswathi Nagar Phase -1 is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthukadu-B

The guideline value is a crucial factor when buying or selling property in Uthukadu-B. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Phase -1?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2023 to 2024, while it increased by 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

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

For a 1,000 sq.ft plot valued at Rs 300 per sq.ft, the total guideline value is Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000.

Which office handles registrations in Saraswathi Nagar Phase -1?

The Walajabad Sub Registrar Office handles registrations for Saraswathi Nagar Phase -1, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value determined for properties in Uthukadu-B?

The guideline value for properties in Uthukadu-B is determined by the Registration Department's guideline value register. It varies by street and is updated periodically based on revisions.