Guideline Value for SARASWATHI NAGAR

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saraswathi Nagar has changed

Over the years, the guideline value of Saraswathi Nagar has seen significant changes. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 163 per sq.ft. This value increased to Rs 192 per sq.ft in 2003, marking an 18% rise. The subsequent revisions show a substantial increase, with the value jumping to Rs 500 per sq.ft in 2007, a 160% increase. In 2012, the value was Rs 1,400 per sq.ft, reflecting a 180% rise from the previous revision. However, this figure dropped by 33% to Rs 938 per sq.ft in 2017. The 2023 revision saw another increase to Rs 1,400 per sq.ft, followed by the current value of Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year.

There are no figures recorded for the revisions in years other than those listed. The overall change from 2002 to 2024 reflects an increase of 820% in the guideline value for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Saraswathi Nagar is below this median.

• Saraswathipuram: Rs 1,500 per sq.ft (2024)
• Saravana Nagar: Rs 1,500 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)
• Sathandapuram New Colony: Rs 2,800 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)
• Sadayanguppam Pattai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar?

The Sub Registrar Office that covers Saraswathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value as determined by the local authorities. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 163 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, showing an overall increase of 820% over this period.

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

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles property registrations in Saraswathi Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Saraswathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded at a fair value as determined by local authorities.