Guideline Value for SARASWATHY STREET

Saraswathy Street guideline value

The current guideline value of Saraswathy Street, located in Perambur village under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Saraswathy Street has changed

The guideline value of Saraswathy Street has seen several revisions over the years. In 2002, the value was Rs 509 per sq.ft, which increased to Rs 558 per sq.ft in 2003, marking a 10% rise. The value then experienced a significant increase of 43% to reach Rs 800 per sq.ft in 2007.

Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 338% increase. However, in 2017, the guideline value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 62% increase from the 2017 figure. The register has no figure for the year 2023 for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Saraswathy Street's 2024 figure above this median.

• Saraswathy Square Street: Rs 4,300 per sq.ft (2024)
• Sarma Nagar Door No.1 To 450.: Rs 2,700 per sq.ft (2024)
• Santhiyappa Mudali 3rd Street: Rs 4,900 per sq.ft (2024)
• Santhiyappa Mudali 2nd Street: Rs 4,900 per sq.ft (2024)
• Santhiyappa Mudali 1st Street: Rs 4,900 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathy Street?

The Sub Registrar Office that covers Saraswathy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Perambur, the guideline value is crucial as it determines the minimum price at which a property can be registered. This value is used by the registration department to calculate the stamp duty and registration fees applicable to the transaction.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saraswathy Street?

The current guideline value of Saraswathy Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 509 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 647%.

What is the land classification for Saraswathy Street?

Saraswathy Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Saraswathy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Saraswathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.