Guideline Value for SARASWATHY NAGAR

Saraswathy Nagar guideline value

The current guideline value for Saraswathy Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Athur A Block village, under the Chengleput Joint II SRO, with a land classification of Mixed Type - I.

How the guideline value of Saraswathy Nagar has changed

The guideline value for Saraswathy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was adjusted to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision returned the value to Rs 600 per sq.ft, and the current 2024 revision maintains this rate with no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Athur A Block

Athur A Block has a total of 44 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the current value for Saraswathy Nagar.

• Sakthi Mangala Nagar: Rs 600 per sq.ft (2024)
• Sakthi Avenue: Rs 600 per sq.ft (2024)
• Sai Thirumalai Nagar: Rs 500 per sq.ft (2024)
• Rukmani Gardens: Rs 600 per sq.ft (2024)
• Sivakami Nagar: Rs 600 per sq.ft (2024)
• S.L.K.K Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 details.

Which Sub Registrar Office covers Saraswathy Nagar?

The Sub Registrar Office that covers Saraswathy Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, within the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value plays a crucial role when buying or selling property in Athur A Block. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate the associated costs.

When registering a property, the guideline value is essential for establishing the official value of the property. This value is used by the registration office to assess the applicable fees, ensuring that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Saraswathy Nagar?

The current guideline value of Saraswathy Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a decrease to Rs 402 per sq.ft in 2017 and a return to Rs 600 per sq.ft in 2023.

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

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which office handles registrations for Saraswathy Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Saraswathy Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Saraswathy Nagar?

The land classification of Saraswathy Nagar is Mixed Type - I, which indicates the type of development and usage permitted in the area.