Guideline Value for SARASWATHIPURAM

Saraswathipuram guideline value

The current guideline value of Saraswathipuram is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Saraswathipuram has changed

The guideline value for Saraswathipuram has undergone several revisions over the years. In 2002, the guideline value was Rs 140 per sq.ft. This increased to Rs 165 per sq.ft in 2003, marking an 18% rise. The value continued to rise significantly, reaching Rs 500 per sq.ft in 2007, which was a 203% increase from the previous revision. In 2012, the value was Rs 1,400 per sq.ft, reflecting a 180% increase from 2007. However, this was followed by a decrease to Rs 938 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value rose to Rs 1,400 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, which is a 7% increase from the previous year. The register has no figures for this street for the years not mentioned.

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 Saraswathipuram is below this median.

• Saraswathi Nagar: Rs 1,500 per sq.ft (2024)
• Saravana Nagar: Rs 1,500 per sq.ft (2024)
• Sathandapuram New Colony: Rs 2,800 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)
• Selvavinayagar Koil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathipuram

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 amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000. Together, the total cost for stamp duty and registration fee would be Rs 1,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathipuram?

The Sub Registrar Office that covers Saraswathipuram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. The higher of the guideline value and the sale price will be considered for calculating the applicable duties and fees, ensuring that the registration reflects the true value of the property.

Frequently asked questions

What is the current guideline value of Saraswathipuram?

The current guideline value of Saraswathipuram 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 changed from Rs 140 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 971% over the years.

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

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 Saraswathipuram?

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

Where can I find more information on guideline values in Thiruvottiyur?

For more information on guideline values in Thiruvottiyur, you can check the Thiruvottiyur SRO's official resources or visit the links provided for other streets in the area.