Guideline Value for SARASWATHY AVENUE

Saraswathy Avenue guideline value

The current guideline value of Saraswathy Avenue is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Merattur village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Saraswathy Avenue has changed

The guideline value for Saraswathy Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 100 per sq.ft, which was then increased by 50% to Rs 150 per sq.ft in the 2023 revision. The 2024 revision maintained this value at Rs 150 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in Merattur

In Merattur village, there are five streets under the Ponneri SRO that carry a 2024 guideline value of Rs 150 per sq.ft. The median value for these streets is also Rs 150 per sq.ft, placing Saraswathy Avenue at this median value.

• Rds Nagar Phase I & II: Rs 150 per sq.ft (2024)
• Sri Jayam Nagar: Rs 150 per sq.ft (2024)
• Sri Subramaniya Gandhi Nagar: Rs 150 per sq.ft (2024)
• Pasumai Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total fees Rs 13,500. The duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saraswathy Avenue?

The Saraswathy Avenue falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

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 Merattur, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Saraswathy Avenue?

The current guideline value of Saraswathy Avenue is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, and it remained the same in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the median guideline value for streets in Merattur?

The median guideline value for the streets in Merattur under the Ponneri SRO is Rs 150 per sq.ft, which is the same as the guideline value for Saraswathy Avenue.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Saraswathy Avenue is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Saraswathy Avenue?

The Sub Registrar Office covering Saraswathy Avenue is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information about this office online.